New Delhi: Prime Minister Narendra Modi stated on Thursday that as a result of the government's recent actions, the nation is evolving into a global manufacturing hub and is becoming "Aatmanirbhar" in the field of defence.
PM Modi made note of the fact that there was a period when the majority of the Defence budget was spent on acquiring weapons and equipment from overseas during his speech to the country from the Red Fort's ramparts.
Now, the government is focused on indigenous manufacturing to make the nation self-reliant.
The Prime Minister hailed the Ministry of Defence and the Armed Forces for taking a series of decisions.
There are over 5,600 items that are being/will be procured only from the Indian industry after designated timelines.
India, which was once completely dependent on the import of Defence equipment, is today exporting to numerous countries.
Annual Defence production hit a record high of Rs 1.27 lakh crore in FY 2023-24.
In the same fiscal, Defence exports touched a record high of Rs 21,083 crore, an increase of 32.5 per cent over FY 2022-23.
According to the Ministry of Defence, there has been a massive jump in Defence exports in the first quarter of FY 2024-25.
“Rs 6,915 crore worth of Defence equipment has been exported in the first quarter, an increase of 78 per cent from the first quarter of FY 2023-24, when the figure was Rs 3,885 crore,” the ministry added.
PM Modi said there was a time when the country was a victim of terror attacks; but today it is bold and strong, with the “Armed Forces giving a befitting reply to anyone who tries to harm the sovereignty, unity and integrity of the country”.
He asserted that the nation is proud of its brave soldiers who selflessly serve the motherland.
“Be it the Army, Navy, Air Force or the space sector, we are witnessing the ever-growing Nari Shakti of our country,” PM Modi said.
With inputs from IANS