As the competition heats up for the Indian Air Force (IAF) tender for medium transport aircraft, the Airbus A-400M, belonging to the French Navy, has arrived in India for a naval exercise.
With contenders like the American C-130J and the Brazilian C-390 Millennium vying for the lucrative contract, the presence of the A-400M adds an intriguing dimension to the ongoing competition.
The joint naval exercise between the Indian and French navies marks another step in their increasing cooperation and interoperability. Recently, the Indian Navy’s long-range maritime patrol aircraft P-8I engaged in a joint exercise over the Bay of Bengal with its French counterpart, alongside the presence of the French transport aircraft A-400M.
These exercises aim to enhance synergy and interoperability between the two navies, further strengthening their strategic partnership.
The timing of the naval exercise coincides with the agreement between India and France to intensify cooperation in the Southwest Indian Ocean, emphasizing their shared commitment to maintaining freedom of navigation in the Indo-Pacific region.
This collaboration builds upon previous joint surveillance missions conducted from the French territory of La Reunion in 2020 and 2022, reflecting the growing strategic alignment between the two nations.
India’s strategic significance in the Indo-Pacific cannot be understated, given its extensive coastline, numerous islands, and vast Exclusive Economic Zone (EEZ). Similarly, France’s presence in the Indian Ocean rim, with its overseas territories and extensive EEZ in the Indo-Pacific, underscores its importance as a regional player.
The Indian Ocean Region is witnessing increasing attention from both the QUAD countries and France, with military assets from these nations participating in joint exercises aimed at enhancing synergy and security. French military vessels, like the Frigate FNS Lorraine, have previously visited Indian islands, highlighting the strengthening defence ties between India and France.
In the competitive landscape of the medium transport aircraft tender, companies like Lockheed Martin and Airbus Defence and Space are competing against each other, leveraging their respective advantages. Lockheed Martin holds an edge with its C-130J Super Hercules, already in the IAF’s fleet, while Airbus aims to make inroads with its A-400M aircraft.
Embraer Defence & Security, in partnership with Indian company Mahindra, is also a contender in the tender, showcasing its commitment to the Indian market by proposing the C-390 Millennium multi-mission aircraft. With the IAF looking to induct 40-80 aircraft as part of the Make in India initiative, the competition remains fierce.
The A-400M’s visit to India coincides with Embraer’s strategic move to establish manufacturing capabilities in India, further intensifying the competition for the coveted medium transport aircraft contract. As the tender process unfolds, the participation of global aerospace firms underscores India’s growing importance in the defence market and its evolving defence partnerships.
The Merit Lists for SSCW (Tech)-33 and SSC (Tech)-62 courses due to commence in April 2024 reflect the Indian Army’s stringent selection criteria for commissioning officers.
Candidates are reminded to promptly submit their academic documents to avoid cancellation of their candidature. Joining letters will be issued based on merit, vacancies, and meeting all eligibility criteria.
It’s important to note that the inclusion in the merit list is not a guarantee of a Joining Letter and that medical examination results are not considered in the merit list preparation.
This process underscores the Army’s commitment to meritocracy and the importance of medical fitness and complete documentation for prospective officers.
The NCC 55 Merit List for both men and women candidates aspiring to join the Officers Training Academy (OTA) in Chennai has been released. This marks a significant milestone in the selection process for the Special Entry Scheme 55th course (April 2024).
The prestigious list names 88 women and 145 men who have excelled through the rigorous selection process, showcasing an amalgamation of intellect, physical prowess, and leadership qualities.
The merit list also includes a special category for ‘wards of battle casualty,’ honoring the sacrifices of Army personnel, with 3 names featuring in this category. These candidates have not only met the academic and physical criteria but also carry the legacy of bravery and resilience from their family’s military background.
The merit list for women is led by candidate Shatakshi Bhatt, holding the top position, followed by a series of talented individuals who have proven their mettle.
The top 10 AIR for women candidates from the merit list are as follows:
The candidates named in the merit list are instructed to submit all required documents immediately if they haven’t done so already. The joining letters will be contingent upon the vacancies, medical fitness, and the verification of all necessary documentation, including educational certificates and ‘C’ certificates from the Directorate General National Cadet Corps (DG NCC) and Battle Casualty certificates from the respective AG/MP 5(D) branch. The candidates must meet all eligibility criteria as per the course notification to ensure their positions.
This announcement not only signifies the conclusion of a competitive selection process but also marks the beginning of a challenging and rewarding journey for these aspirants as they prepare to serve the nation with honor and dignity.
Civil Aviation Minister Jyotiraditya Scindia has announced India’s latest initiative to launch its first Helicopter Emergency Medical Service (HEMS) in Uttarakhand. The HEMS, stationed at the All India Institute of Medical Sciences (AIIMS) in Rishikesh, will play a vital role in airlifting accident victims within a 150 km radius to the medical facility, ensuring timely access to critical care.
Addressing the media, Minister Scindia emphasized the significance of the HEMS in expanding medical outreach and trauma care services, particularly in hilly terrains where access to medical facilities is often challenging.
“Assembly and certification of the helicopter to be deployed for the purpose is underway. It is on my dashboard. It is entirely my concern now not yours,” he stated, highlighting the government’s commitment to operationalize the service promptly.
The HEMS initiative aligns with the government’s vision to enhance emergency medical services and provide swift transportation for accident victims during the crucial ‘golden hour’ following an incident.
Minister Scindia underscored the strategic positioning of the helicopters at AIIMS Rishikesh, ensuring efficient coverage of a 150 km radius and prompt transportation of patients to the medical facility.
In addition to the HEMS, Minister Scindia announced another significant project aimed at enhancing air connectivity in Uttarakhand.
Responding to the state government’s request, the Civil Aviation Ministry has completed the bidding process for air connectivity from Hindon Air Base to Pithoragarh. The specific route will be awarded after further evaluation under the UDAN (Ude Desh ka Aam Nagrik) scheme, which aims to promote regional air connectivity across India.
Assuring Uttarakhand Chief Minister Pushkar Dhami of ongoing developments, Minister Scindia highlighted the progress of the integrated airport building at the Uttarakhand airport. He reaffirmed the government’s commitment to addressing the state’s aviation needs and ensuring seamless connectivity for its residents.
The launch of the HEMS under the ‘Sanjeevani’ project marks a significant milestone in India’s healthcare infrastructure, demonstrating the government’s proactive approach to improving emergency medical services and enhancing accessibility to critical care.
With projects like UDAN driving regional air connectivity, Uttarakhand is poised to witness transformative developments in aviation, healthcare, and overall infrastructure.
The defence sector in India plays a crucial role in safeguarding the nation’s interests by producing, engineering, and maintaining military equipment, facilities, and materials.
With the Indian government’s push for self-reliance and indigenous production through initiatives like “Atmanirbhar Bharat,” several defence sector companies have seen significant growth and potential. In this comprehensive guide, we will explore the future of the defence industry in India and shed light on the best defence sector stocks that investors can consider in 2024.
The defence industry is a critical component of any nation’s security framework, and India is no exception. A strong defence sector ensures the protection of a country’s geographical boundaries and creates a secure environment for its citizens and businesses to thrive. With the rising geopolitical tensions in the region, India recognizes the importance of upgrading its defence capabilities and reducing its reliance on foreign imports.
2. Factors Driving Growth in the Defence Sector
2.1 Make in India and Atmanirbhar Bharat Initiatives
The Indian government’s Make in India and Atmanirbhar Bharat initiatives aim to promote indigenous manufacturing and reduce dependence on foreign imports. As part of these initiatives, the government has imposed an import embargo on 101 defence items, encouraging domestic companies to step up their production capabilities.
2.2 Increased Spending on Defence
India is one of the top military spenders globally, reflecting its commitment to strengthening its defence capabilities. In the financial year 2023-24, the government allocated a budget of 5.94 lakh crore INR for defence, a 13% increase from the previous year. This increased spending creates opportunities for defence sector companies to secure contracts and drive growth.
2.3 Growing Demand for Advanced Defence Equipment
With evolving security challenges, there is a growing demand for advanced defence equipment, including aircraft, missiles, submarines, and electronic systems. Defence sector companies that can meet these demands with cutting-edge technology and innovation are well-positioned for growth.
3. Overview of the Best Defence Sector Stocks in India
In this section, we will delve into the top defence sector stocks in India that investors should consider in 2024. These companies have demonstrated strong performance and have the potential for future growth.
3.1 Taneja Aerospace and Aviation Ltd
Taneja Aerospace and Aviation Ltd is a small-cap defence company that specializes in the manufacturing and sale of various parts and components to the aviation industry. The company also provides services related to airfield operations, maintenance, repair, and operations (MRO). Taneja Aerospace and Aviation have witnessed remarkable growth in the past year, with a 1-year return of 229.24%.
Stock Name
Market Cap (Rs. in Cr.)
Close Price (Rs.)
PE Ratio
1Y Return (%)
5YCAGR (%)
Net Income (Q)
Taneja Aerospace and Aviation Ltd
936.15
375.50
85.26
229.24
65.55
2.68
3.2 Hindustan Aeronautics Ltd (HAL)
Hindustan Aeronautics Ltd (HAL) is a prominent defence and aerospace company in India, with a rich history dating back to 1940. HAL is involved in the manufacturing and maintenance of aircraft and helicopters. With a market share of 88.48% in the defence sector, HAL is a key player in the industry. The company has experienced a remarkable 1-year return of 140.75%.
Stock Name
Market Cap (Rs. in Cr.)
Close Price (Rs.)
PE Ratio
1Y Return (%)
5YCAGR (%)
Net Income (Q)
Hindustan Aeronautics Ltd
1,97,843.71
2,958.30
33.95
140.75
50.02
1236.7
3.3 Sika Interplant Systems Ltd
Sika Interplant Systems Ltd is another noteworthy player in the defence sector. The company is engaged in the design, development, and production of defense electronics systems, including avionics, radars, and communication systems. Sika Interplant Systems has shown robust growth, with a 1-year return of 122.13%.
Stock Name
Market Cap (Rs. in Cr.)
Close Price (Rs.)
PE Ratio
1Y Return (%)
5YCAGR (%)
Net Income (Q)
Sika Interplant Systems Ltd
666.09
1,570.90
75.01
122.13
59.96
5.04
3.4 Bharat Dynamics Ltd
Bharat Dynamics Ltd (BDL) is a government-owned company that specializes in the production of guided missiles and allied defence equipment. The company is a critical player in the defence industry, with a robust order book and a focus on indigenization of defence manufacturing. Bharat Dynamics has demonstrated strong financial performance, with a 1-year return of 86.85%.
Stock Name
Market Cap (Rs. in Cr.)
Close Price (Rs.)
PE Ratio
1Y Return (%)
5YCAGR (%)
Net Income (Q)
Bharat Dynamics Ltd
32,095.30
1,751.15
91.13
86.85
43.12
147.11
3.5 High Energy Batteries (India) Ltd
High Energy Batteries (India) Ltd is a company engaged in the manufacturing of batteries for various applications, including defence. The company’s products find applications in missile systems, artillery guns, and other defence equipment. High Energy Batteries has shown significant growth potential, with a 1-year return of 81.03%.
Stock Name
Market Cap (Rs. in Cr.)
Close Price (Rs.)
PE Ratio
1Y Return (%)
5YCAGR (%)
Net Income (Q)
High Energy Batteries (India) Ltd
537.92
600.10
26.27
81.03
59.88
3.26
3.6 Data Patterns (India) Ltd
Data Patterns (India) Ltd is involved in the design, development, and manufacture of electronic systems for defence and aerospace applications. The company’s product portfolio includes avionics systems, ruggedized computers, and electronic warfare systems. Data Patterns has demonstrated consistent growth, with a 1-year return of 57.66%.
Stock Name
Market Cap (Rs. in Cr.)
Close Price (Rs.)
PE Ratio
1Y Return (%)
Net Income (Q)
Data Patterns (India) Ltd
11,063.27
1,976.15
89.22
57.66
33.79
3.7 Paras Defence and Space Technologies Ltd
Paras Defence and Space Technologies Ltd is engaged in the design, development, and manufacturing of defence and space engineering products. The company’s product portfolio includes defense and space avionics, defense electronics systems, and space-related hardware. Paras Defence has shown steady growth, with a 1-year return of 32.53%.
Stock Name
Market Cap (Rs. in Cr.)
Close Price (Rs.)
PE Ratio
1Y Return (%)
Net Income (Q)
Paras Defence and Space Technologies Ltd
2,932.41
751.90
81.32
32.53
9.42
3.8 ideaForge Technology Ltd
ideaForge Technology Ltd is a company that specializes in the design, development, and manufacturing of unmanned aerial vehicles (UAVs) for defence and industrial applications. The company’s UAVs find applications in surveillance, reconnaissance, and monitoring. ideaForge Technology has shown resilience in a challenging market, with a 1-year return of -39.89%.
Stock Name
Market Cap (Rs. in Cr.)
Close Price (Rs.)
PE Ratio
1Y Return (%)
Net Income (Q)
ideaForge Technology Ltd
3,337.45
778.40
104.33
-39.89
0.9
4. Future Prospects of the Defence Industry in India
The future of the defence industry in India looks promising, with several factors contributing to its growth potential. The government’s focus on self-reliance and indigenous production, coupled with increased defence spending, will create opportunities for defence sector companies to expand their operations. Additionally, advancements in technology, such as artificial intelligence, robotics, and cybersecurity, will shape the future of the defence industry.
5. Factors to Consider Before Investing in Defence Sector Stocks
Investing in defence sector stocks can be rewarding, but it is essential to consider certain factors before making investment decisions. Here are a few key factors to keep in mind:
5.1 Government Policies and Contracts
The defence industry is heavily influenced by government policies and contracts. Investors should stay informed about any changes in government regulations and track the awarding of defence contracts to companies.
5.2 Financial Performance
Analyzing the financial performance of defence sector companies is crucial. Factors such as revenue growth, profitability, and debt levels can provide insights into a company’s financial health and its ability to generate returns for investors.
5.3 Technological Advancements
Keeping an eye on technological advancements in the defence sector is important. Companies that invest in research and development and stay at the forefront of innovation are likely to have a competitive advantage in the market.
5.4 Global Geopolitical Landscape
The global geopolitical landscape can significantly impact the defence sector. Investors should consider factors such as international relations, conflicts, and defense alliances that may affect the demand for defence equipment and services.
6. Conclusion
Investing in the defence sector can be an excellent opportunity for investors looking for long-term growth and stability. With the Indian government’s focus on self-reliance and increased defence spending, the sector is poised for significant growth. By carefully evaluating the financial performance, technological capabilities, and government contracts of defence sector companies, investors can make informed investment decisions in this thriving industry.
7. Frequently Asked Questions (FAQs)
1. What are the best defence sector stocks in India?
Some of the best defence sector stocks in India include Taneja Aerospace and Aviation Ltd, Hindustan Aeronautics Ltd (HAL), Sika Interplant Systems Ltd, Bharat Dynamics Ltd, High Energy Batteries (India) Ltd, Data Patterns (India) Ltd, Paras Defence and Space Technologies Ltd, and ideaForge Technology Ltd.
2. What is the list of defence stocks on the NSE?
The National Stock Exchange (NSE) lists several defence sector stocks, including those mentioned in this article. Investors can explore the NSE for a comprehensive list of available defence stocks.
3. Which is the top-performing defence sector stock in India?
The top-performing defence sector stock in India can vary based on various factors and market conditions. Investors should conduct thorough research and analysis before determining the top-performing stock.
4. How can I identify the top defence stocks in India?
Identifying the top defence stocks in India requires careful analysis of various factors, including financial performance, market share, government contracts, and technological capabilities. Investors can also seek guidance from financial advisors or use stock screeners to identify potential investment opportunities.
5. What risks are associated with investing in defence stocks?
Investing in defence stocks carries certain risks, including geopolitical uncertainties, regulatory changes, competition, and technological advancements. Investors should carefully evaluate these risks and diversify their portfolios to mitigate potential downsides.
6. Do defence shares typically offer dividends?
Some defence sector companies may offer dividends to shareholders based on their financial performance and dividend policies. Investors should review a company’s dividend history and policies before making investment decisions.
7. Are defence sector stocks considered a long-term investment in India?
Defence sector stocks can be considered for long-term investment in India, given the sector’s growth potential and the government’s focus on self-reliance. However, investors should conduct thorough research and analysis to assess the long-term prospects of individual companies before making investment decisions.
Disclaimer: The information provided in this article is for educational purposes only and should not be construed as investment advice. Always conduct your own research and consult with a qualified financial advisor before making investment decisions.
India made a significant move to promote its renowned supersonic cruise missile, BrahMos, at the recently concluded World Defence Show hosted by Saudi Arabia.
With India aiming to expand its defence exports, speculations are rife that BrahMos might be offered to the Saudi kingdom, marking a potential milestone in defence cooperation between the two nations.
Amidst keen interest from global stakeholders, reports emerged from local Russian media, purportedly citing an official from the BrahMos Aerospace joint venture, suggesting discussions with Saudi Arabia for a prospective sale of the supersonic cruise missile.
Praveen Pathak, Director of Exports at BrahMos Aerospace, expressed optimism during media interactions on the sidelines of the defence show, stating, “We expect several high-level meetings, and we hope that our joint product will be promoted in these regions.
A great deal of interest has been shown here [in Saudi Arabia], and we have previously met with Saudi delegations at other exhibitions. We are very hopeful for these negotiations.”
The participation of key Indian dignitaries further underscored India’s commitment to bolstering defence ties and advancing its exports in the Middle East region.
Union Minister of State for Defence & Tourism, Ajay Bhatt, India’s Ambassador to the Kingdom of Saudi Arabia, Dr. Suhel Ajaz Khan, and Additional Secretary Anurag Bajpai were present at the BrahMos pavilion, highlighting India’s proactive stance in exploring opportunities for collaboration and partnership in defence technology.
While official statements from the Indian government or the Saudi kingdom are awaited, reports in both Russian and Indian media hint at the potential export of BrahMos to not just Saudi Arabia but also to Southeast Asian and other Middle Eastern countries.
This strategic move reflects India’s ambition to leverage its indigenous defence capabilities and forge stronger defence partnerships on the global stage.
The promotion of BrahMos at the World Defence Show underscores its status as a poster child of India’s defence exports and highlights its reputation as a formidable supersonic cruise missile in the international market. As discussions progress, the potential export of BrahMos to Saudi Arabia holds the promise of fostering closer defence ties and contributing to regional security and stability.
In a tense escalation along the Line of Control (LoC) in Jammu and Kashmir’s Poonch district, the Indian Army resorted to opening fire at Pakistani quadcopters detected at two different locations. The incident, which occurred on Friday, saw the flying objects briefly intruding into Indian territory before retreating back across the border into Pakistan.
Officials reported that the quadcopters were spotted hovering over the Indian side in the Balnoi-Mendhar and Gulpur sectors, triggering an immediate response from the Indian Army.
Troops deployed in the area promptly launched fire at the intruding drones, compelling them to withdraw to Pakistani territory.
Following the incident, the Indian Army initiated a search operation in both sectors to ascertain whether the quadcopters had attempted to drop weapons or narcotics onto Indian soil.
The swift action underscores the Indian Army’s commitment to safeguarding the integrity of the LoC and preventing any unauthorized intrusions or attempts to smuggle contraband into the region.
The first encounter occurred in the Balnoi area of Mendhar around 6:30 am, where troops engaged two drones with gunfire, forcing them to retreat. Similarly, another pair of quadcopters were sighted hovering over the Gulpur sector during the same timeframe.
Indian forces swiftly responded, opening fire at the intruders and compelling them to retreat across the border.
This incident comes on the heels of a previous engagement on February 12, when Indian Army troops intercepted an enemy drone in the Mankote area of the Mendhar sector.
The recurring pattern of drone activity along the LoC underscores the persistent threat posed by Pakistan’s utilization of drones for nefarious purposes, including smuggling narcotics and weapons into Jammu and Kashmir.
In response to the escalating drone menace, the Jammu and Kashmir Police recently announced a cash reward of Rs 3 lakh for individuals providing credible information about drones being flown from across the border.
This proactive measure highlights the urgency of addressing the growing security challenges posed by cross-border drone activities and underscores the collaborative efforts between security forces and local communities to counter this threat effectively.
As tensions persist along the LoC, the Indian Army remains vigilant and prepared to thwart any attempts to undermine the region’s security and stability.
The latest encounter serves as a stark reminder of the need for continued vigilance and proactive measures to safeguard India’s territorial integrity and protect the lives of civilians living in border areas.
A HERMES 900 HFE drone made by Israeli company Elbit for use in the Swiss reconnaissance system (ADS15) lands after a certification flight at the Swiss air force base in Emmen, Switzerland September 8, 2022. REUTERS/Arnd Wiegmann
As tensions escalate in the conflict between Israel and Gaza, India has made a significant move by supplying over 20 Adani-bin Advanced Systems Lid-made military drones to the Israeli military.
These drones, similar to the Adani-made Hermes 900, have been instrumental in the Israeli Defence Forces’ military campaign in Gaza, contributing to a reported death toll of over 28,000 people, according to reports from The Wire.
The delivery of more than 20 Hermes 900 medium-altitude, long-endurance (MALE) unmanned aerial vehicles (UAVs) to Israel marks a strategic partnership between the two nations in the field of defence technology.
As reported by media outlet Shephard Media, the acquisition of these drones underscores Israel’s commitment to enhancing its aerial surveillance and reconnaissance capabilities.
Here are five key aspects to understand about the UAV and the deal:
High-Performance Sensors: The Hermes 900 UAV is equipped with high-performance sensors that enable it to detect ground or maritime targets across a wide spectral range. This advanced technology enhances its effectiveness in surveillance and reconnaissance missions, providing crucial intelligence to military operations.
Payload Capacity: According to Elbit Systems’ website, the UAV boasts an impressive payload capacity of 350 kilograms, allowing for the integration of various mission-specific payloads. This versatility enables the Hermes 900 to undertake a wide range of tasks, including surveillance, target acquisition, and intelligence gathering.
Joint Venture with Adani: In 2018, Israel’s Elbit Systems formed a joint venture with Adani Defence and Aerospace, with Elbit holding a 49% share.
The collaboration resulted in the establishment of a $15-million facility in Hyderabad, aimed at manufacturing advanced defence equipment, including UAVs. The drones supplied to Israel were manufactured at the Adani facility in Hyderabad, showcasing India’s growing capabilities in defence manufacturing.
Inclusion in India’s Defence Inventory: In 2023, India incorporated the Hermes 900 UAVs into its defence inventory, highlighting the nation’s commitment to leveraging cutting-edge technology for security purposes.
The decision to procure and manufacture these drones domestically underscores India’s strategic vision to enhance surveillance capabilities along its northern borders and strengthen its defence infrastructure.
Global Drone Manufacturing: India’s involvement in supplying and manufacturing the Hermes 900 drone positions the country as a key player in the global drone manufacturing arena. By partnering with Israel, a leading innovator in defence technology, India aims to enhance its indigenous capabilities and contribute to advancements in aerial surveillance and reconnaissance capabilities globally.
India’s decision to supply advanced drones to Israel amidst the ongoing conflict in Gaza underscores the complex dynamics of international relations and the strategic imperatives driving defense collaborations.
As India continues to assert its position as a prominent player in the defence industry, partnerships like these are likely to shape the future of military technology and security cooperation on a global scale.
In a significant move towards enhancing the shopping experience for defence personnel, Navy Chief Admiral R Hari Kumar has inaugurated the first-of-its-kind experiential store in Delhi. Named NavMart 24/7, the store promises to offer around-the-clock shopping convenience exclusively to authorized personnel, as announced in a recent post on X by the Indian Navy.
This innovative initiative, which commenced operations on February 13, 2024, is managed by the Indian Naval Canteen Services (INCS). NavMart 24/7 is designed to cater to the diverse needs of defence personnel, their families, ex-servicemen, civilians associated with the defence sector, as well as Indian Navy ships and establishments, with funding from defence estimates.
One of the standout features of NavMart 24/7 is its flexible billing options, which include both assisted self-billing and live self-billing, making the shopping experience smoother and more convenient for its users. This move aligns with the broader Digital India campaign, leveraging technology to provide efficient and user-friendly services to the nation’s defence community.
Experiential 24×7 CSD & INCS Store – #NavMart 24/7 at #NewDelhi inaugurated by Adm R Hari Kumar #CNS, on 13 Feb 24. Operated by Indian Naval Canteen Services (INCS), this unique store offers a #24×7 shopping convenience to authorised personnel. Provides flexible billing options… pic.twitter.com/2XtPFMvfhr
The INCS has been instrumental in serving the daily needs of the defence community through its Unit Run Canteens (URCs), which primarily source their inventory from CSD depots. The inauguration of NavMart 24/7 marks a significant milestone in the INCS’s efforts to modernize and enhance the retail experience for its clientele.
With this launch, the Indian Navy has taken a significant step forward in ensuring that its personnel have access to a modern, convenient shopping facility that caters to their unique needs and schedules, reinforcing the navy’s commitment to the welfare of its community.
In a groundbreaking achievement, the Ministry of Defence (MoD) has set a new benchmark by surpassing the monumental figure of Rs 1 lakh crore Gross Merchandise Value (GMV) of procurement through the Government e-Marketplace (GeM) since its inception in 2016.
This remarkable feat underscores MoD’s unwavering commitment to modernizing procurement practices and leveraging digital platforms to enhance efficiency and transparency.
In the current fiscal year alone, MoD has placed orders worth approximately Rs 46,000 crore on GeM as of February 13, 2024. Contrasting with the order value of Rs 28,732.90 crore in the FY 2022-23 and Rs 15,091.30 crore in the FY 2021-22, this substantial increase of over sixty percent exemplifies MoD’s relentless efforts in embracing the GeM platform for procurement activities.
With more than 19,800 defence buyers from across the country participating, GeM has witnessed over 5.47 lakh orders being placed.
A significant aspect of this achievement is that approximately 50% of these orders were awarded to Micro and Small Enterprises (MSEs), aligning with the core objective of promoting social inclusion in public procurement and bolstering India’s economic self-reliance.
GeM, conceptualized as an online platform for public procurement in India by Prime Minister Shri Narendra Modi, has emerged as a beacon of inclusive, efficient, and transparent procurement practices.
Launched on August 9, 2016, by the Ministry of Commerce and Industry, GeM has revolutionized the procurement landscape, providing buyers and sellers with a fair and competitive marketplace to conduct transactions.
This milestone represents a collective effort involving MoD, Armed Forces, Public Sector Undertakings (PSUs), Defence industry, and research institutions.
It not only celebrates the success of the GeM platform but also reaffirms MoD’s steadfast commitment to strengthening national defence capabilities and fostering a prosperous future for India.
The achievement underscores the transformative impact of digital initiatives in streamlining procurement processes, enhancing accountability, and driving economic growth. As India continues its journey towards self-reliance and technological advancement, initiatives like GeM serve as catalysts for innovation and inclusive development across sectors.
