In Short:
India’s defence exports hit a record high of ₹21,083 crore in FY23-24, with a 32.5% growth from the previous year. Defence Minister Rajnath Singh praised the private sector and DPSUs for the growth. India’s defence manufacturing capabilities have improved, leading to increased exports to over 85 countries. Key products like LCA-Tejas and Brahmos Missiles are in high demand globally.
India’s Defence Exports Reach Record High, Defence Minister Shares Excitement
Breaking news alert! India’s defence exports have skyrocketed to an all-time high, hitting a whopping ₹21,083 crore in the financial year 2023-24. This marks a remarkable 32.5% growth from the previous financial year, as announced by none other than Defence Minister Rajnath Singh on Monday.
Celebrating India’s Defence Manufacturing
Beaming with pride, Defence Minister Rajnath Singh highlighted the exceptional growth of both the private sector and Defence Public Sector Undertakings (DPSUs) in recent years. He expressed, “The defence ministry has spearheaded numerous initiatives to drive India’s defence manufacturing and exports, leading to this monumental achievement.”
In a post shared on X, Rajnath Singh expressed his delight, stating, “I am pleased to inform everyone that Indian Defence Exports have surged to unprecedented levels, crossing the ₹21,000 crore milestone for the first time in Independent India’s history.”
He further credited Prime Minister Narendra Modi‘s visionary leadership for propelling India’s defence manufacturing and export efforts to new heights.
From Importer to Exporter – India’s Transformation
Over the past year, India has made significant strides in expanding its defense manufacturing capabilities, resulting in a surge in exports. The Ministry of Defence achieved a historic milestone with a remarkable increase in defense exports, fueled by growing global interest in Indian defense products such as LCA-Tejas, light combat helicopters, and aircraft carriers.
Reports from Mint reveal that India is now exporting its locally manufactured defense products to more than 85 countries, showcasing the prowess of its defense industry. With over 100 firms actively engaged in defense product exports, India has successfully shipped sophisticated defense systems like 155 mm Advanced Towed Artillery Guns and Brahmos Missiles to various countries.
With India’s defense manufacturing capabilities on the rise, the world is taking notice of the country’s self-reliance in the defense sector, with the Defence Minister emphasizing that the 21st century is set to belong to India.
