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The Economic Times
The Economic Times

Doubled in 5 years: India's military-industrial moment has arrived

India Drone Bharat Forge Larsen Toubro Missile Tata Advanced Systems

India's defence manufacturing story has crossed an important milestone. The country's defence production touched a record Rs 1.78 lakh crore in FY26, rising 15.6% from Rs 1.54 lakh crore a year earlier and more than doubling from Rs 84,643 crore recorded in FY21. The growth becomes even more striking when viewed over a longer period. Indigenous defence production has nearly quadrupled from Rs 43,746 crore in 2013-14, reflecting a sustained policy push towards self-reliance under the Aatmanirbhar Bharat programme.

This manufacturing surge comes alongside the government's record defence budget of Rs 7.85 lakh crore for 2026-27, including Rs 2.19 lakh crore earmarked for military modernisation and capital acquisitions. The defence budget has more than tripled from Rs 2.53 lakh crore in 2013–14.

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