Mandatory Disclosures

Why PGDM with focus on Defence

Growth of Defence manufacturing sector in India

Defence and Aerospace sector-  as one of the focus areas for the ‘Aatmanirbhar Bharat
The government aims to achieve a turnover of US $25 bn including export of US $5 bn in Aerospace and Defence goods and services by 2025.
India - the 3rd largest military spender in the world has its defence budget accounting for 2.15% of the country’s total GDP.
World military spending crossed US $2 trillion for the first time in 2021 registering a growth of 12% as compared to 2012 (SIPRI)
Over the next 5-7 years, the Government of India plans to spend US $130 Bn for fleet modernisation across all armed services.
In Union Budget 2023-24, US $72.6 bn has been allocated to the Ministry of Defence
The share of domestic capital procurement in defence has been enhanced from 64% in FY 2021-22 to 68% in FY 2022-23

Growth enablers

To promote the defence manufacturing in India, dedicated Defence Industrial Corridors in Tamil Nadu and Uttar Pradesh have been established
The govt. is creating a robust eco-system to support defence manufacturing by supportive policies
Ministry of Defence has notified 310 defence equipments to be manufactured locally
FDI in Defence Sector has been enhanced up to 74% through the Automatic Route and 100% by Government Route to promote defence export
IDEX (Innovations for Defence Excellence) and DTIS (Defence Testing Infrastructure Scheme) launched to promote innovation in defence ecosystem

Promising trends for defence sector

Defence imports reduced from 46% to 36% of overall expenditure from 2018-19 to 2021-22.
Defence exports grew by 334% in last five years; India now exporting to over 75 countries
Defence exports crossed INR 13,000 crore. Govt has set a target of INR 1.75 lakh crore of defence production by 2025, including export of INR 35,000 crore.
India has around 194 defence tech startups building innovative tech solutions
Uttar Pradesh Defence Industrial Corridor (UPDIC) has signed 69 MoUs with industry with potential investment of INR 10,545 crore
Tamil Nadu Defence Industrial Corridor (TNDIC) has arranged investment worth potential of INR 11,359 crore through MoUs etc. with 42 industries 
All these trends are a testimony for the boosting defence manufacturing sector. It will also lead to immense requirement of trained manpower.