PM Modi said that India was progressing steadily towards self-reliance in the defence sector and emerging as a global manufacturing hub with various initiatives taken by the government in the recent past. Addressing from the ramparts of historic Red Fort, PM Modi reminded a time when a substantial part of the budget of the Defence was spent on purchasing arms, ammunition, and equipment from foreign countries. He added that the Government of the day is now keen on indigenization to make the country self-sufficient in Defence production. He lauded the important decisions taken by Ministry of Defence and the Armed Forces in this direction.
Over 5,600 items are now being or will be procured solely from Indian industries within stipulated timelines. A country which was dependent on Defence imports is now exporting to many countries. In the financial year 2023-24, country's Defence production touched an all-time high of Rs 1.27 lakh crore. The Defence exports in the same period touched a record Rs 21,083 crore, registering an increase of 32.5 per cent over the previous financial year.
The Ministry of Defence, on Tuesday said, Defence exports have registered a significant jump in the first quarter of FY 2024-25. According to the Ministry, the country exported defence equipment worth Rs 6,915 crore during this quarter in comparison to Rs 3,885 crore in the first quarter of FY 2023-24.
PM Modi also brought out that it was when, at one time, the country was haunted by serial blasts and other acts of terrorism; today, it stood resolute and strong. The Armed Forces had given a fitting reply whenever there had been an attack on India's sovereignty, unity, and integrity. The country was proud of its brave soldiers who served the country day and night. He also referred to the participation of women in the Armed Forces and the space sector and said that Nari Shakti of India was very strong and gaining in strength.
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