2024 has been a transformative year for India's defence sector, marking its evolution from a significant arms importer to a prominent player on the global defence stage. This shift is largely attributed to the country's focus on Atmanirbharta (self-reliance), which has driven substantial advancements in domestic production, exports, and technological capabilities.

1. Surge In Defence Exports

India's defence exports reached an unprecedented ₹21,083 crore (approximately $2.63 billion) in FY 2023-24, reflecting a 32.5% increase from the previous year. This growth signifies a 31-fold increase over the last decade, showcasing the effectiveness of government reforms and initiatives like "Make in India" that have bolstered the country's manufacturing capabilities.

2. Indigenous Production And Self-Reliance

The unveiling of the fifth Positive Indigenisation List (PIL) in July 2024 included 346 critical items aimed at reducing reliance on foreign imports. This initiative has led to the indigenization of nearly 5,000 items, enhancing India's self-sufficiency in key defence sectors such as aerospace and armaments. The government's commitment to self-reliance was further reinforced by significant investments in domestic production, which totalled ₹1.27 lakh crore for the fiscal year.

3. Major Inductions And Technological Advancements

2024 saw critical inductions into India's armed forces, including the full integration of the Light Combat Helicopter (LCH) Prachand into the Indian Air Force and advancements in fighter jet capabilities with the induction of TEJAS MK-1A aircraft. Additionally, India approved capital acquisitions worth over ₹4.22 lakh crore, with a focus on procuring systems from domestic sources.

4. Strategic International Collaborations

India entered into significant defence contracts, including the procurement of 31 MQ-9B SkyGuardian drones from the United States and maintenance contracts with General Atomics. These partnerships enhance India's surveillance capabilities and reflect its growing strategic ties with global defence players.

5. Expansion of Manufacturing Infrastructure

The establishment of India's first privately owned military aircraft factory marks a pivotal moment in diversifying and expanding its defence manufacturing base. This move is expected to further stimulate innovation and production capacity within the sector.

As India aims for a defence production target of ₹3 lakh crore by 2029, its achievements in 2024 lay a robust foundation for future growth. With ongoing efforts to enhance indigenous capabilities and strategic partnerships, India is poised to solidify its position as a key player in the global defence landscape while contributing to national security and economic growth.

Agencies