India's defence exports have soared to new heights, reaching a historic milestone of ₹21,083 crore in the financial year 2023-24, marking a remarkable growth of 32.5% compared to the previous fiscal year. Defence Minister Rajnath Singh announced this significant achievement, underscoring the robust growth of both the private sector and Defence Public Sector Undertakings (DPSUs) in India's defence manufacturing landscape.
In a statement made on April 1, Defence Minister Rajnath Singh highlighted the transformative initiatives undertaken by the defence ministry to bolster India's defence manufacturing and exports. Under the visionary leadership of Prime Minister Shri Narendra Modi, these initiatives have played a pivotal role in propelling India towards self-reliance in defence production.
Expressing his delight over this unprecedented achievement, Rajnath Singh emphasized that the milestone of crossing the ₹21,000 crore mark in defence exports represents a watershed moment in the history of Independent India. He attributed this success to the concerted efforts and strategic policies implemented by the government to promote indigenous defence manufacturing capabilities.
Just a month prior, Rajnath Singh had lauded India's burgeoning defence manufacturing prowess as a testament to the 'Atmanirbhar Bharat' (self-reliant India) initiative. He highlighted that India's total defence manufacture has reached a monumental figure of one lakh crore, showcasing the nation's trajectory towards self-sufficiency in defence production.
The surge in defence exports can be attributed to India's expanding defence manufacturing capabilities, which have garnered increased global interest in Indian defence products. Key exports include advanced platforms such as LCA-Tejas, light combat helicopters, aircraft carriers, and more, reflecting the growing confidence in India's defence industry on the global stage.
According to reports, India is exporting its locally manufactured defence products to over 85 countries, demonstrating the prowess and competitiveness of its defence sector. With over 100 firms actively engaged in defence exports, India has emerged as a key player in the global defence market.
Notably, sophisticated defence systems like the 155 mm Advanced Towed Artillery Guns, Brahmos Missiles, among others, have been successfully exported to various countries, showcasing India's technological prowess and reliability in delivering high-quality defence solutions.
India's remarkable success in defence exports not only bolsters its economic growth but also strengthens its strategic partnerships with countries around the world. As India continues to prioritize indigenization and self-reliance in defence production, it is poised to emerge as a global leader in the defence manufacturing sector, contributing significantly to regional security and stability.
The achievement of surpassing the ₹21,000 crore mark in defence exports underscores India's growing capabilities and its commitment to fostering a robust defence industrial base, thereby ensuring national security and promoting global peace and stability.
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