defence exports: “Indian Defence Exports crossed Rs 21,000 crore mark for the first time”, says Defence Minister Rajnath Singh

New Delhi: Union Defence Minister Rajnath Singh took to social media to announce that the nation’s defence exports have soared to unprecedented ranges, crossing the milestone of Rs 21,000 crore for the primary time within the historical past of Unbiased India.

Defence Minister Rajnath Singh posted on X (previously Twitter),” Delighted to tell everybody that the Indian Defence Exports have scaled to unprecedented heights and crossed Rs 21000 crore mark for the primary time within the historical past of Unbiased India! India’s defence exports have recahed to the extent of Rs.21,083 Crore within the monetary yr 2023-24 which is a spectacular progress of 32.5 per cent over the earlier fiscal.”

In keeping with the assertion posted by Defence Minister Rajnath Singh, India’s defence exports surged to a staggering Rs 21,083 crore within the monetary yr 2023-24, marking a exceptional progress charge of 32.5 per cent over the earlier fiscal yr.

India’s defence exports span throughout 84 nations and areas worldwide.

This phenomenal progress displays the concerted efforts and strategic initiatives undertaken by the Defence Ministry, notably beneath the management of Prime Minister Narendra Modi, to bolster India’s defence manufacturing capabilities and promote indigenous defence manufacturing.

The Defence Ministry has carried out a sequence of initiatives aimed toward catalysing India’s defence manufacturing sector.These initiatives haven’t solely facilitated technological developments however have additionally created a conducive atmosphere for each private and non-private sectors to actively take part and contribute to the nation’s defence exports.The success story of India’s defence exports owes a lot to the collective efforts of about 50 Indian corporations, spanning each the private and non-private sectors, who’ve performed a pivotal position in attaining this feat.

These corporations have demonstrated commendable innovation, effectivity, and high quality requirements, thereby enhancing India’s status as a dependable provider of defence gear and know-how.

India’s defence exports have diversified geographically, with exports reaching nations corresponding to Italy, Maldives, Sri Lanka, Russia, UAE, Poland, Philippines, Saudi Arabia, Egypt, Israel, Spain, Chile, amongst others.

This international outreach underscores the rising demand for Indian defence merchandise and the growing recognition of India’s capabilities in assembly the evolving safety wants of countries worldwide.

Among the many main defence objects being exported, Private Protecting Gadgets, Offshore Patrol Autos, ALH Helicopters, SU Avionics, Coastal Surveillance Techniques, Mild Engineering Mechanical Components, Kavach MoD, amongst others, have emerged as key contributors to India’s defence export portfolio.

These cutting-edge defence applied sciences and gear have garnered vital curiosity from worldwide patrons, additional enhancing India’s place as a number one exporter of defence {hardware}.