India Aims for Rs 175,000 Crore Indigenous Defence Manufacturing by 2024-25

India's Defence Secretary Giridhar Aramane inaugurates three new naval vessels at Mazagon Dock Shipbuilders Ltd's 250th Foundation Day, highlighting India's focus on indigenous defence manufacturing amidst global conflicts and asymmetric warfare, with a goal to achieve Rs 175,000 crore in defence manufacturing by 2024-25." This description covers the primary topic (indigenous defence manufacturing), main entities (Defence Secretary Giridhar Aramane, Mazagon Dock Shipbuilders Ltd), context (global conflicts and asymmetric warfare), and significant actions (inauguration of new naval vessels, goal to achieve Rs 175,000 crore in defence manufacturing). It also provides objective and relevant details that will help an AI generate an accurate visual representation of the article's content, such as the naval vessels and the Defence Secretary's role.

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India Aims for Rs 175,000 Crore Indigenous Defence Manufacturing by 2024-25

India Aims for Rs 175,000 Crore Indigenous Defence Manufacturing by 2024-25

India's Defence Secretary Giridhar Aramane marked the 250th Foundation Day of Mazagon Dock Shipbuilders Ltd (MDL) in Mumbai by inaugurating three new naval vessels: a midget submarine prototype, a solar electric hybrid boat, and a fuel-cell electric ferry. This milestone event highlights India's growing focus on indigenous defence manufacturing, particularly in the wake of the Russia-Ukraine war and asymmetric warfare in the Red Sea and Gulf.

Why this matters: The increased demand for defence equipment due to global conflicts and asymmetric warfare has significant implications for regional security and the global balance of power. As India aims to become a major defence manufacturer, its success could have far-reaching consequences for its economy, regional influence, and global relationships.

The Defence Secretary emphasized India's goal of achieving indigenous defence manufacturing worth Rs 175,000 crore by 2024-25, including defence exports of Rs 35,000 crore. He noted that the defence industry is facing a capacity crunch due to ongoing geopolitical conflicts, indicating a continued demand for defence utilities for years to come. "Whether it's ammunition, whether it is the land platforms, are in great demand because of the Russia-Ukraine war, and also the new technologies, the asymmetric warfare which is being carried out in Red Sea as well as in the Gulf," Aramane stated.

Aramane urged Indian shipbuilders to build up capacity to meet the security needs of the country and friendly nations. "You have a portfolio which is the envy of several other shipyards in the world. With this kind of heritage and tradition behind you, it is essential that you start building up your capabilities for the future also," he said. Mazagon Dock Shipbuilders has delivered over 800 ships, 7 submarines, and 65 offshore platforms since its inception in 1774.

The Defence Secretary also stressed the importance of anticipating future threats and building capabilities accordingly. "We should think ahead of time. We should think about how the disruptors are thinking. We should think how Houthis are acting or how Hamas is acting to anticipate what shall be our capabilities," Aramane advised.

India occupies a central role in the Indo-Pacific region and has been building up its naval capabilities since the 19th century. The government has taken initiatives to open up the defence industry to foreign direct investments and the private sector, providing incentives to shipbuilding and encouraging domestic innovation. Defence exports have touched a record Rs 21,083 crore (approximately USD 2.63 billion) in the financial year 2023-24, with a growth of 32.5 per cent over the last fiscal.

As India aims to achieve its ambitious target of Rs 175,000 crore in indigenous defence manufacturing by 2024-25, the Defence Secretary's visit to Mazagon Dock Shipbuilders underscores the country's commitment to strengthening its naval capabilities and meeting the growing demand for defence equipment in the face of global conflicts and asymmetric warfare.

Key Takeaways

  • India's Defence Secretary inaugurates 3 new naval vessels, highlighting indigenous defence manufacturing focus.
  • India aims to achieve Rs 175,000 crore in indigenous defence manufacturing by 2024-25.
  • Defence exports touch record Rs 21,083 crore in FY 2023-24, with 32.5% growth.
  • India's naval capabilities are crucial in the Indo-Pacific region amidst global conflicts.
  • Defence Secretary urges Indian shipbuilders to build capacity to meet security needs.