As per the PIB report published on 17 April 2025, India's defence production has reached a new milestone by increasing from ₹40,000 crore in 2014 to over how much in the financial year 2023-24?

Correct option is C

The correct answer is (C) Rs. 1.27 lakh crore

Explanation:

·       According to the PIB report published on 17 April 2025, India’s defence production witnessed a major milestone, increasing from around ₹40,000 crore in 2014 to over ₹1.27 lakh crore in the financial year 2023–24.

·       This remarkable growth reflects the success of initiatives like ‘Make in India’, Atmanirbhar Bharat, and Defence Procurement Policy reforms, which aimed to boost indigenous defence manufacturing.

Information Booster:

·       The ₹1.27 lakh crore mark is the highest-ever defence production figure for India.

·       The increase is due to a rise in production by Defence Public Sector Undertakings (DPSUs), enhanced participation of private sector companies, and improved procurement procedures.

·       India has also focused on reducing defence imports by encouraging domestic manufacturing of weapons, ammunition, and equipment.

·       The government has introduced positive indigenisation lists, banning imports of specific defence items to encourage local development.

·       India aims to become a global hub for defence exports, with exports also seeing significant growth in recent years.