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India’s defence exports touch all-time high

New Delhi: Defence exports from India touched an all-time high. country’s defence exports crossed Rs 21,083 crore in the financial year 2023-24. Union Defence Minister Rajnath Singh announced this.

This is for the first time in the history of Independent India that country’s defence exports is crossing Rs 21,000 mark. This is  a ‘spectacular growth’ of 32.5 per cent over the previous fiscal.

‘Delighted to inform everyone that the Indian Defence Exports have scaled to unprecedented heights and crossed ?21,000 crore mark for the first time in the history of Independent India! 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% over the previous fiscal!,’ Rajnath Singh said in a post on X.

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‘Under Prime Minister Shri Narendra Modi’s visionary leadership the Defence Ministry has taken several initiatives to spur India’s defence manufacturing and exports,’ he added.

Defence exports in 2022-23 fiscal was at Rs 15,920 crore. As per data, defence exports have grown 31 times in the last 10 years as compared to FY 2013-14. The private sector and the defence public sector undertakings (DPSUs) contributed around 60% and 40%, respectively. The number of export authorisations rose from 1,414 in FY 2022-23 to 1,507 in FY 2023-24.

India is exporting its locally manufactured defence products to over 85 countries. Over 100 firms are actively exporting defence products. Multile sophisticated defence systems including 155 mm Advanced Towed Artillery Guns, Brahmos Missiles, rockets, armoured vehicles, offshore patrol vessels, personal protective gear, a variety of radars, surveillance systems and ammunition have been exported to other countries.


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