India’s Defence Exports Reach All-Time High Of Rs.15,920 Crore
India’s defence exports reached an all-time high of Rs.15,920 crore in the financial year 2022-2023, Defence Minister Rajnath Singh said today describing the rise as a remarkable achievement.
The country’s defence exports in 2021-22 was Rs.12,814 crore, according to official data.
“India’s defence exports have reached an all-time high of Rs.15,920 crore in FY 2022-2023. It is a remarkable achievement for the country,” Rajnath Singh said on Twitter.
“Under the inspiring leadership of PM Shri @narendramodi, our defence exports will continue to grow exponentially,” he said.
India exported military hardware worth Rs.8,434 crore in 2020-21, Rs.9,115 crore in 2019-20, and Rs.10,745 crore in 2018-19, according to details provided by Rajnath Singh.
The amount in 2017-18 was Rs.4,682 crore and Rs.1,521 crore in 2016-17.
The government has set the target of manufacturing defence hardware worth Rs.1,75,000 crore and take defence exports to Rs.35,000 crore by 2024-25.
In the last few years, the government has taken a series of measures to promote domestic defence production.