Rajnath Singh Lauds India's Defence Exports Boom Clocking Rs 21,000 Cr In FY23-24

(MENAFN- KNN India) New Delhi, Apr 1 (KNN) In a remarkable achievement, India's defence exports crossed the Rs 21,000 crore mark for the first time in history during the 2023-24 financial year, according to an announcement by Defence Minister Rajnath Singh on Monday.

This record-breaking figure of Rs 21,083 crore represents a staggering 32.5 per cent growth over the previous fiscal year.

India's burgeoning defence export footprint now spans across 84 countries and regions worldwide.

This global outreach underscores the growing demand for Indian defence products and the country's rising reputation as a reliable supplier of cutting-edge military equipment and technology.

The phenomenal surge in defence exports is a testament to the concerted efforts and strategic initiatives undertaken by the Defence Ministry under Prime Minister Narendra Modi's leadership.

These initiatives have not only catalysed technological advancements but have also fostered an enabling environment for both public and private sectors to actively participate in indigenous defence manufacturing.

Among the major defence items fuelling India's export growth are Personal Protective Items, Offshore Patrol Vehicles, ALH Helicopters, SU Avionics, Coastal Surveillance Systems, Light Engineering Mechanical Parts, and the Kavach MoD system.

These advanced defence technologies and equipment have garnered significant interest from international buyers, cementing India's position as a leading exporter of defence hardware.

The success of India's defence exports owes much to the collective efforts of about 50 Indian companies spanning the public and private sectors.

These companies have demonstrated remarkable innovation, efficiency, and quality standards, thereby enhancing India's reputation as a reliable supplier of defence equipment and technology.

With its diverse export portfolio, strategic initiatives, and collaborative approach, India's defence exports are poised for further growth, solidifying the country's position as a global defence manufacturing hub.

(KNN Bureau)

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