For the first time, defence production crosses Rs one lakh crore this year - Broadsword by Ajai Shukla - Strategy. Economics. Defence.

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Friday 19 May 2023

For the first time, defence production crosses Rs one lakh crore this year

Mazagon Dock delivers INS Vagsheer, the 6th and last Scorpene submarine. It has sailed out for sea trials, after which it will be commissioned into the fleet.


By Ajai Shukla

Business Standard, May 20th, 2023


India’s public and private defence production units have, for the first time, produced more than one lakh crore rupees worth of goods and services during the last financial year.


A ministry of defence (MoD) statement on Friday revealed that the total value of defence production in Financial Year 2022-23 has exceeded Rs 1.07 lakh crore. 


“As a result of the consistent efforts of the MoD, the value of defence production in Financial Year (FY) 2022-23 has crossed the figure of Rs one lakh crore for the first time ever. The value currently stands Rs 1,06,800 crore and it will go up further once data is received from the remaining private defence industries,” stated the MoD in a media release. 


“The current value of defence production in FY 2022-23 is a rise of more than 12 per cent over FY 2021-22, when the figure was Rs 95,000 crore,” the MoD stated.


Explaining the rise in output, the MoD said it is continuously working with defence industries and their associations to remove the challenges faced by them and to promote defence production in the country. 


“A number of policy reforms have been taken to achieve the objective of ease of doing business, including the integration of micro, small and medium enterprises (MSMEs) and start-ups into the supply chain,” said the MoD.


Due to these policies, the industries, including MSMEs and start-ups, are forthcoming in defence design, development and manufacturing, said the MoD.


“There is almost a 200 per cent increase in the number of defence licenses issued to the industries in the last 7-8 years by the Government. These measures have given a boost to the defence industrial manufacturing ecosystem in the country and generated tremendous employment opportunities,” it said.


Scorpene submarine, INS Vagsheer, begins sea trials


The sixth submarine of Project 75, the Kalvari-class submarine INS Vagsheer, commenced her sea trials on Thursday.


The submarine was launched on April 2020 from the Kanhoji Angre Wet Basin in Mazagon Dock Limited (MDL). The INS Vaghsheer is scheduled for delivery to the Indian Navy in early 2024 after completion of her sea trials.


During these trials, INS Vagsheer will undergo intense examinations of all its systems at sea, including propulsion systems, weapons and sensors.

1 comment:

  1. Really? You think becoming dependent on foreign manufacturers is a good idea strategically? Wow!


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