The "Year End Review 2024," released by India's Ministry of Defence.
In the federal budget for FY 2024-25, the Ministry of Defence was allocated Rs 6.22 lakh crore (approximately US $75 billion), the highest among all ministries, with 75 percent of the capital procurement budget reserved for domestic industry. Here are some key highlights for the year as shared by the Ministry of Defence:
India-China ties: The ministry said that India and China reached a "broad consensus" to restore the situation in "certain areas" along the Line of Actual Control (LAC) through ongoing diplomatic and military discussions, focusing on mutual security.
Self-Reliance in Defence: In July this year, the Department of Defence Production (DDP) issued the fifth Positive Indigenisation List (PIL) with 346 items to promote self-reliance in defence and reduce imports by Defence Public Sector Undertakings (DPSUs). This follows four previous PILs, which included 4,666 items, of which 2,972 worth Rs 3,400 crore, have already been indigenized. These lists include highly-complex systems, sensors, weapons and ammunition.
Defence production: The ministry said that it achieved the highest-ever growth in indigenous defence production in value terms during Financial Year (FY) 2023-24. The defence production went up to a record-high figure of Rs 126,887 crore, reflecting a growth of 16.7 percent over the defence production of the previous financial year.
Defence exports: The MoD said defence exports touched a record Rs 21,083 crore (approximately 2.63 billion US dollars) in the FY2023-24, a growth of 32.5 percent over the previous fiscal. It said that the defence industry, including the private sector and defence public sector units, made "tremendous efforts in achieving the highest-ever exports."
Major Inductions: INS Arighaat, the second Arihant-Class submarine, was commissioned into the Indian Navy on 29 August 2024, featuring advanced indigenously developed technology, systems, and equipment, making it more advanced than its predecessor, Arihant.
INS Tushil, the latest multi-role stealth-guided missile frigate, was commissioned into the Indian Navy on 9 December 2024, and is the first of two upgraded follow-on ships in the Krivak III class, designed for advanced naval warfare across air, surface, underwater, and electromagnetic domains.
Major contract: In October 2024, the Ministry of Defence signed contracts with the US Government for 31 MQ-9B Sky/Sea Guardian RPAS for the tri-services, and with General Atomics Global India Pvt Ltd for performance-based logistics, including maintenance and repair in India.
Defence Cooperation: The ministry said that the year saw defence cooperation with "friendly countries" reach the next level through visits of the dignitaries and military exercises. Among them, some highlights were:
United States: During his visit to the US from 23-26 August 2024, Defence Minister Rajnath Singh held extensive discussions with US Secretary of Defence Lloyd Austin on enhancing bilateral defence cooperation, industrial collaboration, and regional security.
Russia: In December 2024, the defence minister co-chaired the 21st session of the India-Russia Inter-Governmental Commission on Military & Military Technical Cooperation, meeting Russian President Vladimir Putin to discuss strengthening bilateral defence ties.
Japan: Singh and External Affairs Minister Dr. S. Jaishankar hosted Japan's Defence Minister Kihara Minoru in August 2024 for the third India-Japan 2+2 Ministerial Dialogue, reviewing and enhancing defence cooperation.
Singapore: In October 2024, the defence minister co-chaired the sixth India-Singapore Defence Ministerial Dialogue in New Delhi, reaffirming the strong bilateral defence relations focused on regional peace, stability, and security.
Thus, the year 2024 marked significant strides in India's defence sector, with record growth in production, exports, and technological advancements.
