Indian Defence Exports Hit Record Rs. 21,000 Crore: Rajnath Singh
Union Defence Minister Rajnath Singh has announced on social media that India's defence exports have reached an unprecedented level, surpassing Rs 21,000 crore for the first time in the history of Independent India. Defence Minister Rajnath Singh posted on X (formerly Twitter), "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 reached to the level of Rs.21,083 Crore in the financial year 2023-24, which is a spectacular growth of 32.5 percent over the previous fiscal".
As per the announcement made by Defence Minister Rajnath Singh, India witnessed a remarkable surge in its defence exports, reaching a staggering Rs 21,083 crore during the financial year 2023-24. This signifies an impressive growth rate of 32.5 percent compared to the preceding fiscal year. India's defence exports now extend to 84 countries and regions globally. The remarkable expansion underscores the collaborative endeavors and strategic measures implemented by the Defence Ministry, notably under the guidance of Prime Minister Narendra Modi, to enhance India's defence manufacturing capacities and foster indigenous defence production.
The Defence Ministry has implemented a series of initiatives aimed at catalyzing India's defence manufacturing sector. These initiatives have not only facilitated technological advancements but have also created a conducive environment for both public and private sectors to actively participate and contribute to the nation's defence exports.
The achievement of India's defence exports is largely attributed to the combined endeavors of approximately 50 Indian companies, encompassing both public and private sectors, which have been instrumental in this accomplishment. These companies have showcased notable innovation, efficiency, and adherence to quality standards, consequently bolstering India's standing as a trustworthy provider of defence equipment and technology.
India's defence exports have expanded across various regions, with shipments reaching nations like Italy, Maldives, Sri Lanka, Russia, UAE, Poland, Philippines, Saudi Arabia, Egypt, Israel, Spain, Chile, and many more. This international outreach highlights the rising demand for Indian defence goods and the growing acknowledgment of India's aptitude in addressing the changing security requirements of nations globally.
Among the prominent defence items being exported, Personal Protective Items, Offshore Patrol Vehicles, ALH Helicopters, SU Avionics, Coastal Surveillance Systems, Light Engineering Mechanical Parts, Kavach MoD, and others have emerged as pivotal elements in India's defence export repertoire. These state-of-the-art defence technologies and equipment have attracted considerable attention from international buyers, thereby reinforcing India's status as a premier exporter of defence hardware.