Asian Markets Plunge After Trump’s Tariff Announcement – Indian Stock Futures Also in Red

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Asian stock markets witnessed a sharp decline on Thursday following the announcement of new tariffs by US President Donald Trump. The decision to impose reciprocal tariffs on multiple countries, including India, has sent shockwaves through global financial markets. Major Indices Take a Hit Japan’s Nikkei 225 fell 2.69% Hong Kong’s Hang Seng Index declined 1.80% South Korea’s KOSPI Index dropped 1.3% US stock market futures also tumbled, with Dow Jones Futures down by 1.78% India’s Stock Market Feels the Heat Gift Nifty Futures fell by 1.11%, indicating a weak opening for the Indian markets Market experts predict economic and financial strain due to the tariffs Banking and market expert Ajay Bagga warned that falling exports and declining margins could hurt India’s economy Safe-Haven Investments Surge With market uncertainty rising, investors are shifting towards: Gold Japanese Yen Swiss Franc Japanese Government Bonds Trump’s Tariff Impact o...
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India’s Defence Production Surges to ₹1.27 Lakh Crore in FY 2023-24, Exports Cross ₹21,000 Crore

 

India’s defence manufacturing sector has achieved record-breaking growth, with total production reaching ₹1.27 lakh crore in FY 2023-24, as per a report by the Ministry of Defence. This marks a significant step toward self-reliance in defence manufacturing and strengthening India’s position as a global arms producer.

Defence Exports Witness a Historic Surge

India’s defence exports have reached an all-time high of ₹21,083 crore in FY 2023-24, marking a 30-fold increase in a decade. Indian-made defence equipment is now being exported to over 100 countries, highlighting the global demand for indigenously developed military technology.

Make in India Driving Defence Growth

The Make in India initiative has played a pivotal role in boosting domestic production. Key defence platforms developed under this initiative include:

  • Dhanush Artillery Gun System

  • Advanced Towed Artillery Gun System (ATAGS)

  • Main Battle Tank (MBT) Arjun

  • Light Specialist Vehicles & High Mobility Vehicles

  • Light Combat Aircraft (LCA) Tejas

  • Advanced Light Helicopter (ALH) & Light Utility Helicopter (LUH)

  • Akash Missile System & Weapon Locating Radar

  • 3D Tactical Control Radar & Software Defined Radio (SDR)

In addition, naval assets such as destroyers, aircraft carriers, submarines, frigates, corvettes, patrol vessels, and attack craft have significantly strengthened India's maritime capabilities.

Shift Towards Indigenous Manufacturing

India, once dependent on foreign arms imports, is now emerging as a leading defence manufacturer. 65% of defence equipment is now manufactured domestically, compared to an earlier import dependency of 65-70%.

The country’s robust defence industrial base includes:
✅ 16 Defence Public Sector Undertakings (DPSUs)
✅ 430+ Licensed Private Companies
✅ 16,000+ MSMEs contributing to defence production

The private sector has also been a game-changer, contributing 21% to total defence production, fostering innovation and efficiency.

India’s Rising Defence Budget and Future Targets

India's defence budget has witnessed a massive rise, increasing from ₹2.53 lakh crore in 2013-14 to ₹6.81 lakh crore in 2025-26, underlining the government’s commitment to strengthening military infrastructure.

Looking ahead, India has set an ambitious target of ₹3 lakh crore in defence production by 2029, positioning itself as a global hub for defence manufacturing.

Final Thoughts

India’s rapid progress in defence production and exports is a testament to its technological advancements, policy reforms, and self-reliance goals. The shift from an import-heavy defence economy to an indigenous manufacturing powerhouse marks a new era for India's defence sector.

💬 What are your thoughts on India’s growing defence manufacturing capabilities? Drop your insights in the comments! 👇🏼

Location: Pune, Maharashtra, India

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