PM Modi Announces Explosion of 1,000 New Startups in Defense Sector Over Five Years—A Milestone Moment at Tata Aircraft Complex Inauguration!
Vadodara, Gujarat, October 28, 2024: In a dazzling display of progress, Prime Minister Narendra Modi revealed that the Indian defense sector is undergoing a transformation of epic proportions, with 1,000 new startups springing up in just the last five years! This exciting announcement came during the inauguration of the C-295 military aircraft manufacturing unit at the Tata Aircraft Complex in Vadodara, where Modi also celebrated the thriving participation of the private sector in defense manufacturing.
A Boom in Defense Production
Speaking at the event, Modi highlighted that the defense production value has tripled over the past decade, soaring from ₹43,746 crore to a whopping ₹1,27,265 crore. The Prime Minister noted that the export of defense products has significantly increased, with India now supplying military equipment to over 100 countries. "We have established two major defense corridors in Uttar Pradesh and Tamil Nadu, and we've empowered organizations like DRDO and HAL to foster innovation and efficiency," Modi stated enthusiastically.
Marching towards #AatmanirbhartaInDefence!
— Ministry of Information and Broadcasting (@MIB_India) October 28, 2024
Over the last decade, defence production has skyrocketed from ₹43,746 Cr to ₹1,27,265 Cr!
With 21% from the private sector, India’s journey towards self-reliance is stronger than ever.#MakeInIndia@makeinindia pic.twitter.com/xuE8xAgsDl
Private Sector Participation is Key
Modi emphasized that the government's initiatives have opened the floodgates for private sector participation, making the defense industry more dynamic and capable. "We have witnessed the emergence of seven major ordnance factories, and we are paving the way for small and medium enterprises to lead manufacturing efforts in the defense ecosystem," he added.
The Tata-Airbus Partnership
At the newly inaugurated facility, Tata, in collaboration with Airbus, will manufacture 40 military aircraft. The significance of this project cannot be overstated as it represents a key step towards self-reliance in defense production. This initiative showcases India's commitment to bolstering its defense capabilities while promoting indigenous manufacturing.
The Bigger Picture
In addition to these developments, the Prime Minister mentioned that more than 18,000 aircraft components are being produced in the country, further solidifying India's position in the global defense market. The contributions of over 16,000 MSMEs are crucial in this defense ecosystem, making it a thriving hub for innovation and growth.
