Ammunition Market Growth in India
Growing focus on Indigenous manufacturing of ammunition to drive market
Indigenous manufacturing is poised to be a driving force in the ammunition market in India, offering a range of strategic and economic advantages. The Indian government’s emphasis on self-reliance in defense production, as outlined in initiatives like "Make in India" and "Atmanirbhar Bharat" (self-reliant India), aims to reduce dependency on foreign suppliers and enhance domestic capabilities. The emphasis on indigenous production aligns with the government’s vision to bolster the domestic defense industry, encouraging collaboration between public and private sectors.
In 2024, Adani Group opened India’s first private ammunition-missile manufacturing complex with the ability to manufacture more than 32 varieties of ammunitions. The Ministry of Defence, on December 15, 2023, signed a contract with Bharat Electronics Limited (BEL), Pune, for procurement of electronic fuzes for the Indian Army for a period of 10 years, at a total cost of USD 643.8 million.
As part of the ‘Aatmanirbhar Bharat’ vision, this contract has been signed for ammunition procurement under ‘Manufacture of Ammunition for Indian Army by Indian Industry,’ a government initiative for a long-term requirement of 10 years. The aim of the project is to build up ammunition stocks to minimize imports, achieve self-sufficiency in ammunition manufacturing, obtain critical technologies, and secure stock affected by supply chain disruption.
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