Defence exports of India crossed 21,000 crore rupees: Its all-time high, as per Rajnath Singh

Defense Minister Shri Rajnath Singh announced on Monday that India's defense exports hit a new high of ₹21,083 crore in the fiscal year 2023–24. This indicates a 32.5% rise in FY24 over FY23. 

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Rajnath Singh, India's Defense Minister, stated, the defense ministry has taken numerous creativities to spur India's defense exports and manufacturing. This claim happens to be built on the huge growth of the commercial sector and Defense Public Sector Undertakings (DPSUs) over time.

Rajnath Singh expressed his happiness in a post on X, stating he's happy to let everyone know that defense exports from India have surpassed ₹21,000 crore for the first time in the country's independent history.

He continued by saying that the defense ministry has started a number of projects to increase India's military industry and exports under the visionary leadership of Prime Minister Shri Narendra Modi.

India's defense minister, Rajnath Singh, praised the country's ability to produce military hardware earlier this month, referring to it as an example of "At manirbhar Bharat."

The overall value of the products we produce for the military is an astounding one lakh crore. Writing the number down as a string of numbers on paper is one technique to find out. This demonstrates that India is moving toward self-sufficiency (at manirbhar), as the Minister of Defense has already said, and international leaders have agreed that India will own the 21st century.

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India made significant progress last year in expanding its capacity to produce defense equipment, which increased exports. Last year saw a sharp increase in defense exports, which helped the Ministry of Defense achieve unprecedented success. The primary driver of the increase in exports is the growing demand abroad for Indian defense equipment like LCATejas, aircraft carriers, light combat helicopters, and related items.

According to research, India's defense business is strong as seen by the country's exports of defense equipment made domestically to more than 85 countries throughout the globe. Currently, over 100 businesses export military hardware. Many highly advanced defensive systems have been supplied to other nations, such as the 155 mm Advanced Towed Artillery Guns and Brahmos Missiles.