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The value of defence production crossed Rs 1 lakh crore-mark in 2022-23 - the first time ever in the country, the central government said on Friday.

The value of India's defence production has crossed the figure of Rs one lakh crore for the first time ever during financial year 2022-23, the Parliament was told on Friday.In a written reply in the Lok Sabha, Minister of State for Defence Ajay ...

Defence production in India crossed the Rs 1 lakh crore-mark for the first time in 2022-23, according to a statement from Minister of State for Defence Ajay Bhatt. The government has encouraged the creation of indigenous design and manufacture of defence equipment, with schemes including Innovations for Defence Excellence, Technology Development Fund and Make procedure under Defence Acquisition Procedure 2020 set up to support the promotion of defence technology and improve ease of business.

Minister of State for Defence Ajay Bhatt, in a written response to a query in Lok Sabha, also said that the government in the past few years has encouraged indigenous design and manufacture of defence equipment by the local industry.

New Delhi: The value of defence production crossed Rs 1 lakh crore-mark in 2022-23 the first time ever in the country, the central government said on