New Delhi, Nov 20 (IANS) Around 16,000 Micro, Small and Medium Enterprises (MSMEs) are emerging as game changers, strengthening indigenous defence capabilities of the country, the government said on Thursday.
"From drones to avionics to cutting-edge electronics, companies both big and small are stepping up, while 16,000 MSMEs are emerging as the game-changers,” according to an official statement.
With 788 industrial licenses issued to 462 companies, the participation of Indian industry in defence manufacturing is growing rapidly, the statement said.
India recorded its highest-ever defence production of Rs 1.54 lakh crore in FY25 and is on track to achieve Rs 1.75 lakh crore worth of production in the current fiscal year.
The country aims to reach Rs 3 lakh crore in defence production by 2029, further establishing itself as a global defence manufacturing hub.
Indigenous defence production showed a 174 per cent increase in FY24 compared to Rs 46,429 crore in 2014-15, bolstered by government's Atmanirbhar Bharat policies in defence sector, the statement said.
The rise in the defence budget, from Rs 2.53 lakh crore in 2013-14 to Rs 6.81 lakh crore in 2025-26, underlines the government's determination to strengthen country's military infrastructure.
Public Sector Undertakings and other PSUs accounted for about 77 per cent of production, while the private sector’s share rose to 23 per cent in FY25 up 2 per cent YoY.
India currently exports defence products to over 100 countries and saw exports grow by Rs 2,539 crore, or 12.04 per cent, over FY24 figures, the statement added.
Two Defence Industrial Corridors in Uttar Pradesh and Tamil Nadu have attracted investment worth over Rs 9,145 crore, with 289 MoUs signed and Rs 66,423 crore in potential opportunities as of October 2025, the statement noted.
Policy reforms include streamlined Defence Acquisition Procedures, promoting indigenous production via positive indigenisation lists, liberalised FDI, a Rs 1 lakh crore Research, Development and Innovation (RDI) scheme and measures to boost exports to Rs 50,000 crore by 2029.
--IANS
aar/pk
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