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Pvt sector's share in FY24 defence output highest in 8 yrs
Business Standard
|April 04, 2024
Private sector companies accounted for a larger share of defence production in 2023-24 than has been seen in at least eight years.
Even as defence exports have reached record levels, an analysis of the Department of Defence Production data shows that private sector companies accounted for ₹16,411 crore, or 22 per cent share in the total defence production of ₹74,739 crore in 2023-24 (FY24).
This is their largest share in data going back to 2016-17. The latest data is as of March 5.
The earliest data available on the Department of Defence Production website is from 2016.
This year's private sector defence production was lower than the 21,083 crore seen in 2022-23 (FY23). The share at the time was 19 per cent. The increased share in FY24 is because private sector defence production fell less than the overall numbers.
India's defence production in FY24 was ₹74,739 crore compared to ₹1.09 trillion in the previous year.
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