The defence budget was bulked up by 13 per cent in the Union Budget for 2023, the last one before Lok Sabha polls in 2024. Although India was the biggest arms importer between 2018 and 2022, the focus has been shifting towards local manufacturing under make in India.
As part of this push, the Ministry of Defence has signed deals worth Rs 36,400 crore for the army, navy and airforce.
The breakdown
This includes 10 contracts worth more than Rs 5,400 crore for Bharat Electronics and a Rs 9,805 crore order to Cochin Shipyard for next generation missile vessels.
Apart from that, missile systems worth Rs 6,000 crore were ordered from BDL, and offshore patrol vessels will be procured for Rs 9,781 crore from various Indian shipyards.
Another Rs 9,100 crore deal has also been signed for the Akash Weapon System to give new wings to the Air Force, and equip them with weapon locating radars.
Push for local manufacturing
The orders will collectively scale up the capabilities of Indian army on all fronts, and come after other major orders placed with BEL and HAL.
Bharat Electronics has also been included as a navratna firm among public sector companies of India.
