News Brief
India's Defence Exports At All-Time High Of Rs 21,083 Crore In FY23-24 With 32.5 Per Cent Growth, Rajnath Singh Announces
Defence Minister Rajnath Singh (Pic Via Twitter)
Defence Minister Rajnath Singh has recently revealed that India's defence exports hit an all-time high of Rs 21,083 crore in the financial year 2023-24, marking a 32.5 per cent growth compared to the previous year as per a report by Livemint.
Singh highlighted the significant growth of the private sector and Defence Public Sector Undertakings (DPSUs) in recent years, attributing it to several initiatives taken by the defence ministry to boost India's defence manufacturing and exports.
"Delighted to inform everyone that the Indian Defence Exports have scaled to unprecedented heights and crossed Rs 21,000 crore mark for the first time in the history of Independent India," Singh stated in a post on X.
He also praised the country's progress in expanding its defence manufacturing capabilities, which led to a surge in exports. Singh emphasised the role of initiatives like LCA-Tejas, light combat helicopters, and aircraft carriers in increasing global interest in Indian defence products.
As per the same report, India is exporting its domestically manufactured defence products to more than 85 countries, highlighting the strength of its defence industry.
With over 100 firms actively involved in exporting defence products, India has shipped sophisticated defence systems like 155 mm Advanced Towed Artillery Guns, Brahmos Missiles, and others to various nations.
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