India’s Defence Export on a Growth Path - News

Marking a significant 32.5 percent increase from the previous year, India’s defence exports surged to a record INR 21,083 crore (US$ 2.6 billion) in the 2023-24 financial year, according to Shri Rajnath Singh, Defence Minister, Government of India. This achievement represents the highest level of defence exports in the history of India since its independence. 

The growth in exports is attributed to the robust performance of the private sector and the Defence Public Sector Undertakings (DPSUs). He further credited these advancements to numerous initiatives under the leadership of Hon’ble Prime Minister, Narendra Modi, Government of India, which aimed at boosting the nation’s defence manufacturing and exports. This aligns with the country’s broader ‘Self-Reliant India’ initiative, which seeks to enhance India’s self-sufficiency in defence production. 

Over 100 firms in the country are now exporting a variety of locally manufactured defence products, including advanced artillery, Brahmos missiles, and aircrafts like the LCA-Tejas, to over 85 countries worldwide. This expansion highlights India’s growing stature in the global defence industry and its journey from being a defence importer to a significant exporter.