New Delhi, July 05 (HS): Prime Minister Narendra Modi has lauded the highest ever growth recorded in defence production in 2023-24, which has grown by 16.8 per cent to ?1,26,887 crore as compared to the production value of the previous fiscal.

Reacting to a post shared by Defence Minister Rajnath Singh on Instagram on Friday, Prime Minister Modi wrote, "Very encouraging development. Congratulations to all those who contributed to this achievement. We are fully committed to nurturing a supportive environment to further enhance our capabilities and establish India as a leading global defence manufacturing hub. This will strengthen our security apparatus and make us self-reliant."

Earlier, the Defence Minister said in a post on Instagram that the Make in India programme under the leadership of Prime Minister Narendra Modi is achieving new achievements year after year. India has recorded the highest ever increase in the value of defence production in 2023-24. The value of production in 2023-24 has reached Rs 1,26,887 crore, which is 16.8 per cent higher than the production value of the previous financial year. Many congratulations to our industry, including DPSUs, other PSUs and private industry manufacturing defence items. The government is committed to creating a more favorable system to develop India as a leading global defence manufacturing hub.