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India’s Defense industry is a crucial strategic sector for the country. India has one of the world’s largest military forces. India’s approach to foreign mutual trade, as well as rising joint agreements with foreign countries such as the United States for joint Defense manufacturing and strengthening Defense ties, provide huge potential growth opportunities for India’s Defense manufacturing.
India has a Defense procurement, acquisition, and manufacturing policy that aims to minimize imports while boosting domestic production. The ethos of ‘Aatma nirbhar Bharat’ and ‘Make in India’ also aids in the realization of the road to self-reliance in the Defense sector.
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The Defense Industry In India accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.
The Defense Acquisition Council (DAC) strengthened the ‘Make in India’ drive by granting Acceptance of Necessity (AON) to capital acquisition bids for the armed forces’ modernization and operating needs.
In accordance with its goal of boosting indigenous Defense production, the Defense ministry wants to acquire military equipment from domestic businesses over the next five to seven years.
Two indigenously produced smart anti-airfield missiles were successfully flight tested by the Defense Research and Development Organization (DRDO) and the Indian Air Force (IAF).
Some important platforms have been designated for industry-led design and development, in line with the government’s goal of increasing Defense manufacturing self-reliance. Naval ship-borne, aerial systems, and lightweight tanks, as well as a hypersonic glide vehicle, AI-based land robot, naval gun, electric propulsion (engines) for ships, and a standoff airborne jammer, are among the platforms.
