Defence Minister Rajnath Singh announced on Friday that India reached its highest-ever growth in defence production value for the fiscal year 2023-24. He emphasized the remarkable progress of the Make in India initiative, which continues to achieve new milestones. Singh reiterated the government's dedication to creating a favorable environment for making India a major global hub for defence manufacturing.

"The Make in India programme is achieving new milestones every year under the leadership of PM Shri @narendramodi," he stated.

"India has recorded the highest-ever growth in defence production value for 2023-24. The production value has reached Rs. 1,26,887 crore in 2023-24, which is 16.8% higher than the previous financial year," Singh wrote on X.

In his post, he congratulated the Indian industry, including defence public sector undertakings and other public sector entities involved in defence manufacturing, as well as the private sector. - Many congratulations to our industry, including defence public sector undertakings (DPSUs), other PSUs manufacturing defence items, and the private sector. The Government is committed to creating a more supportive environment to develop India as a leading global defence manufacturing hub.

The significant growth in India's defence exports can be credited to several factors, such as policy reforms, 'Ease of Doing Business' initiatives, and a comprehensive digital solution for promoting defence exports. These steps have streamlined the process and increased the global acceptance of Indian defence products and technologies.

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