Indian defense exports surpass Rs 21,000 crore with a historic record of 32.5 per cent growth

Defense Minister of India, Rajnath Singh announced today that the country's defense exports have surged past the Rs 21,000 crore mark for the first time in history.

Taking to social media, Defence Minister Rajnath Singh expressed his delight, stating, "delighted to inform everyone that the Indian Defense Exports have scaled to unprecedented heights and crossed Rs 21,000 crore mark for the first time in the history of Independent India! India's defense 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."

The remarkable growth in India's defense exports, reaching Rs 21,083 crore in the financial year 2023-24, marks a significant leap of 32.5 per cent compared to the previous fiscal year.

With exports spanning across 84 countries and regions worldwide, India's defense industry is making substantial strides on the global stage.

This milestone is attributed to the concerted efforts and strategic initiatives led by the Defence Ministry, particularly under the guidance of Prime Minister Narendra Modi, aimed at enhancing India's defense manufacturing capabilities and promoting indigenous defense production.

A series of initiatives implemented by the Defence Ministry have created an environment conducive to technological advancements and active participation from both public and private sectors in the defense manufacturing sector.

Approximately 50 Indian companies, encompassing both the public and private sectors, have played a pivotal role in achieving this milestone. These companies have showcased commendable innovation, efficiency, and quality standards, reinforcing India's reputation as a dependable supplier of defense equipment and technology.

India's defense exports have expanded geographically, reaching countries such as Italy, Maldives, Sri Lanka, Russia, UAE, Poland, Philippines, Saudi Arabia, Egypt, Israel, Spain, Chile, among others.

Key defense items driving India's export portfolio include Personal Protective Items, Offshore Patrol Vehicles, ALH Helicopters, SU Avionics, Coastal Surveillance Systems, Light Engineering Mechanical Parts, and Kavach MoD, among others.