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Rajnath Singh reports 16.8% surge in India's defence manufacturing for FY24
The Business Guardian
|July 06, 2024
Defence Minister Rajnath Singh announced on Friday that India’s defence manufacturing sector experienced a significant surge, with an increase of 16.8% in the fiscal year 2023-24.
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This substantial growth marks the highest-ever rise in the country’s defence production value, highlighting the effectiveness of the Make in India initiative.
Singh reported that the total value of defence production reached Rs 1,26,887 crore this year, up from the previous year’s figures. He emphasized that the Make in India program continues to achieve new milestones under the leadership of Prime Minister Narendra Modi. The minister’s announcement came via a post on X (formerly Twitter), where he detailed the achievement and its significance.
This story is from the July 06, 2024 edition of The Business Guardian.
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