Make in India’s dominance increased under Modi’s rule, 3 Indian companies making military weapons included in the world’s top 100

Prime Minister Narendra Modi has given the slogan ‘Local goes Global – Make in India for the world’. Along with developing a new ecosystem of Make in India in the country, emphasis has been laid on making India the new global champion of manufacturing and exports. As a result, India is becoming increasingly self-reliant in manufacturing military weapons. Today, the dominance of Make in India has increased all over the world. 3 Indian companies are included in the world’s top 100 companies manufacturing military equipment.

According to the report of Swedish think-tank Stockholm International Peace Research Institute, during 2020 where Hindustan Aeronautics Limited (ranked 42nd) and Bharat Electronics Limited (ranked 66th) grew by 1.5 percent and 4 percent respectively in arms sales. Indian Ordnance Factories (ranked 60) registered a growth of 0.2 per cent in arms sales. According to the report, the total arms sales of Indian companies is $ 6.5 billion (about Rs 48,750 crore),

Which was 1.7 percent more in 2020 than in 2019. Significantly, due to the Corona epidemic, the production of defense industries was affected. The Modi government took a major initiative in 2020 to support domestic companies and increase self-reliance in weapons production. The government announced a phased ban on the import of over 100 different types of military equipment. It also helped protect Indian companies from the negative economic consequences of the pandemic by promoting domestic purchases.

India will soon become a net exporter from a net importer, under the Modi government, the country’s defense sector has also started moving rapidly in the field of exports. Defense Minister Rajnath Singh said on December 4, 2021 that India has exported defense products worth more than Rs 38,000 crore in the last seven years. He said that we have an estimated aerospace and defense industry of Rs 85,000 crore. The focus of the government is on promoting exports. India will soon become a net exporter from a net importer.

He said that the government aims to achieve the export target of Rs 35,000 crore by 2024-25. At the same time, according to the report of Stockholm International Peace Research Institute 2020, India is included in the list of top 25 countries in defense exports. Akash Missile System is a great example of the success of ‘Make in India’ initiative. Many countries have also expressed their desire to buy this missile. Today India is exporting defense products to 75 countries.