India approved defence acquisitions worth ₹4.22 lakh crore till November 2024, significantly benefiting domestic companies like Hindustan Aeronautics Ltd., Mazagon Dock Shipbuilders Ltd., and Larsen & Toubro Ltd.
A remarkable 94% of this outlay, amounting to ₹3.97 lakh crore, has been earmarked for procurement from indigenous sources, emphasizing the government's commitment to self-reliance under the "Make in India" initiative.
The acquisitions include a wide range of equipment such as air defence systems, radars, fast patrol vessels, helicopters, aircraft, navigation systems, and electronic warfare suites.
In the Union Budget for fiscal 2024, the Defence Ministry was allocated ₹6.22 lakh crore, a 5% increase compared to the previous year, reflecting India's continued focus on strengthening its defence capabilities and indigenous manufacturing.
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