Value of defence production crosses `1 lakh-cr mark

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The govt is working with defence industries and their associations to remove the challenges faced by them and promote defence production

New Delhi (ANI): The government on Friday said the value of defence production in financial year (FY) 202223 has crossed the figure of Rs 1 lakh crore for the first time ever.

According to a statement from the ministry of defence, the value currently stands at Rs 1,06,800 crore and it will go further up once the data is received from the remaining private defence industries. The current value of defence production in FY 2022-23 is an increase of more than 12 per cent over FY 2021-22, when the figure was Rs 95,000 crore.

According to the statement, the government is continuously working with defence industries and their associations to remove the challenges faced by them and promote defence production in the country.

A number of policy reforms have been taken to achieve the objective of ease of doing busi- ness, including the integration of micro, small, medium enterprises (MSMEs) and startups into the supply chain. per cent blending of SAF in one flight, which will be taken to 1 per cent in all flights by mid-2025,” Puri said.

Due to these policies, the industries, including MSMEs and startups, are forthcoming in defence design, development and manufacturing and there is almost a 200 per cent increase in the number of defence licences issued to the industries in the last 7-8 years by the government, the ministry said.

“We will make this a 1% norm, then we will bring up it to 5%. All flights will operate with fuel with 1% of SAF once this norm comes in effect,” he added.

“By 2025, if we target to blend 1 per cent SAF blending in Jet fuel, India would require around 14 crore litre of SAF per annum. More ambitiously, if we target for 5% SAF blend, India required around 70 crore litre of SAF per annum”, the minister said.

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