New Delhi: Union Defence Minister Rajnath Singh on Monday said the country's defence exports have scaled to "unprecedented heights" and crossed Rs 21,000 crore mark for the first time in the history of Independent India. The Union minister also said that India's defence exports have reached to the level of Rs 21,083 crore in the financial year 2023-24 which is a "spectacular growth" of 32.5 per cent over the previous fiscal.
In an X post, Singh said, "Delighted to inform everyone that the Indian Defence Exports have scaled to unprecedented heights and crossed Rs 21000 crore mark for the first time in the history of Independent India! India’s defence exports have recahed to the level of Rs.21,083 Crore in the financial year 2023-24 which is a spectacular growth of 32.5 per cent over the previous fiscal.”
Singh further said that under Prime Minister Narendra Modi’s visionary leadership, the defence ministry has taken several initiatives to spur India’s defence manufacturing and exports. "Our defence industries including the Private Sector & DPSUs have registered a commendable performance in the recent years. Congratulations to all stakeholders on crossing the new milestone in defence exports," he added.
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It is pertinent to mention that India’s defence exports span across 84 countries and regions worldwide.
During a discussion with the Indian diaspora in Nigeria in May 2023, the Defence Minister highlighted the government's commitment to 'Aatmanirbharta' (self-reliance) and the notable advancements in defence exports, underscoring the aim of "Make in India, Make for the World".
Initiatives undertaken by the Defence Ministry
The remarkable growth in India's defence exports reflects the concerted efforts and strategic initiatives led by the Defence Ministry to strengthen the country's defence manufacturing capabilities and promote indigenous production.
A series of initiatives implemented by the Defence Ministry have catalysed India's defence manufacturing sector, fostering technological advancements and creating a conducive environment for both public and private sectors to contribute to defence exports.
Around 50 Indian companies, spanning public and private sectors, have played a pivotal role in India's defence export success story, showcasing commendable innovation, efficiency, and quality standards.
India's defence exports have expanded geographically, reaching countries such as Italy, Maldives, Sri Lanka, Russia, UAE, Poland, Philippines, Saudi Arabia, Egypt, Israel, Spain, Chile, among others, highlighting the growing demand for Indian defence products globally.
Major defence items being exported include Personal Protective Items, Offshore Patrol Vehicles, ALH Helicopters, SU Avionics, Coastal Surveillance Systems, Light Engineering Mechanical Parts, Kavach MoD, among others, contributing significantly to India's defence export portfolio.
These advanced defence technologies and equipment have garnered considerable interest from international buyers, solidifying India's position as a leading exporter of defence hardware.
(With agencies input)
