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India’s domestic defence production crossed the Rs 1 trillion mark for the second year and was at Rs 1.27 trillion in 2023-24. The year-on-year growth has accelerated from single-digit levels seen before the pandemic to nearly 17 per cent in 2023-24, according to the latest government figures (chart 1).
Data shows that the share of private defence manufacturing companies in India has been consistent at about a fifth despite an increase in private defence companies and defence startups. The public sector still accounts for the majority of production. The government had mandated procurement targets to
