Defence Minister Rajnath Singh announced via Twitter on Monday that India’s defence exports reached an all-time high and crossed the Rs 21,000 crore mark. Singh informed that India’s defence exports reached Rs 21,083 crore in the financial year 2023-24, a spectacular growth of 32.5 per cent over the previous fiscal year. Singh highlighted the strong growth of the private sector and Defence Public Sector Undertakings (DPSUs) in recent years: “The Defence Ministry has taken several initiatives to spur India’s defence manufacturing and exports.”
Delighted to inform everyone that the Indian Defence Exports have scaled to unprecedented heights and crossed Rs 21000 crore mark for the first time in the history of Independent India!
India’s defence exports have recahed to the level of Rs.21,083 Crore in the financial year…
— Rajnath Singh (@rajnathsingh) April 1, 2024
Rajnath Singh said that this phenomenal growth reflects the concerted efforts and strategic initiatives undertaken by the Defence Ministry, particularly under the leadership of Prime Minister Narendra Modi, to bolster India’s defence manufacturing capabilities and promote indigenous defence production.
Under Prime Minister Shri @narendramodi’s visionary leadership the Defence ministry has taken several initiatives to spur India’s defence manufacturing and exports.
Our defence industries including the Private Sector & DPSUs have registered a commendable performance in the…
— Rajnath Singh (@rajnathsingh) April 1, 2024
“Our defence industries, including the private sector and DPSUs, have registered a commendable performance in recent years. Congratulations to all stakeholders on crossing the new milestone in defence exports,” the Minister added.
Spur in Export
The Indian Defence Ministry has taken several measures to promote the growth of the country’s defence manufacturing industry. These measures have fostered technological progress and established a favourable atmosphere for both public and private entities to engage in and make a valuable contribution to India’s defence exports.
According to Defence Ministry Mandarins, India’s defence exports have witnessed remarkable success because of the collaborative efforts of nearly 50 Indian companies operating across both public and private sectors. Over 100 firms are actively exporting defence products. Multiple sophisticated defence systems, including 155 mm Advanced Towed Artillery Guns, Brahmos Missiles, etc., have been exported to other countries.
These companies have demonstrated commendable innovation, efficiency, and quality standards, which have been the key driving factors behind this achievement. Their contributions have bolstered India’s image as a dependable supplier of defence equipment and technology and instilled a sense of pride in their achievements.
India’s defence exports have diversified geographically and have reached countries such as Italy, Maldives, Sri Lanka, Russia, UAE, Poland, Philippines, Saudi Arabia, Egypt, Israel, Spain, and Chile. This global outreach highlights the increasing demand for Indian defence products and emphasises India’s capabilities in meeting the evolving security needs of nations worldwide.
India’s defence export portfolio has seen a surge in demand for major defence items such as Personal Protective Items, Offshore Patrol Vehicles, ALH Helicopters, SU Avionics, Coastal Surveillance Systems, and Light Engineering Mechanical Parts. These advanced defence technologies and equipment have attracted significant attention from international buyers, thus solidifying India’s position as a top exporter of defence hardware.
Ravi Shankar
