Indian Defence Exports Surpass Rs 21,000 Crore Mark, Signalling Major Milestone
Indian defence exports have reached an impressive milestone, surpassing Rs 21,000 crore. This achievement highlights the country’s increasing strength in the global defence market. In a significant development, the Ministry of Defence has announced a major achievement, indicating a significant increase from the previous fiscal year. This further solidifies India’s position as a prominent participant in the global defence trade.
The Ministry of Defence has released official figures indicating that Indian defence exports for the fiscal year 2023-2024 reached a significant amount of Rs 21,473 crore. This accomplishment highlights the unwavering dedication of Indian defence manufacturers in bolstering the country’s standing in the global defence industry.
Defence Minister Rajnath Singh praised the achievement as a testament to India’s growing self-sufficiency in defence manufacturing. The nation has achieved a significant milestone by surpassing the Rs 21,000 crore mark in defence exports. This accomplishment is a source of pride for the country. Minister Singh highlighted that the display demonstrates India’s dedication to fulfilling the defence needs of its allies, showcasing the country’s capabilities.
There has been a significant increase in defence exports, which can be attributed to a number of factors. These include the government’s proactive policies aimed at promoting indigenous defence manufacturing, as well as the industry’s unwavering commitment to quality and innovation. Prominent items in the country’s export portfolio consist of aircraft, naval vessels, armaments, and various defence equipment.
According to industry experts, the potential for further expansion in India’s defence exports is believed to be immense. Dr. Ajay Kumar, former Defence Secretary, commented on the Indian defence industry’s recent progress, attributing it to government initiatives like ‘Make in India’ and ‘Atmanirbhar Bharat.’ He emphasised that this accomplishment showcases the industry’s competitiveness and the growing international interest in Indian defence products.
India’s robust growth in defence exports is anticipated to make a significant contribution to the country’s economic growth and employment generation. In the coming years, India is expected to further solidify its position as a dependable provider of defence equipment and technology in the global market, leading to a continued upward trend.
India’s export market has expanded significantly, with the country now shipping its products to over 80 countries across the globe, as reported by print sources. Italy, Sri Lanka, Russia, Maldives, Mauritius, Nepal, France, Sri Lanka, Egypt, Israel, Bhutan, UAE, Saudi Arabia, Ethiopia, Philippines, Poland, Spain, and Chile were among the countries on the list.
India’s strong dedication to bolstering its defence capabilities and increasing its presence in the global defence market positions it as a significant contender in the international defence arena.
About The Author
