India Defence Export Records All-Time High, Defence Minister Rajnath Singh Claims ‘32.5% Growth In FY24’

NEW DELHI: In a significant announcement on Monday, Defence Minister Rajnath Singh revealed that India’s defence exports surged to an unprecedented ₹21,083 crore during the financial year 2023-24, marking a remarkable 32.5% growth compared to the preceding fiscal year.

Taking to X, Defence Minister Rajnath Singh informed 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 2023-24 which is a spectacular growth of 32.5% over the previous fiscal,” – Defence Minister Rajnath Singh wrote.

Just a month prior, Singh had commended India’s burgeoning defence manufacturing prowess as emblematic of the ‘Atmanirbhar Bharat’ (self-reliant India) initiative.

Highlighting the monumental achievement of reaching a total defence manufacturing value of one lakh crore, Singh emphasized India’s increasing self-reliance, a sentiment echoed by leaders worldwide who recognize India’s potential to dominate the 21st century.

The surge in defence exports reflects India’s remarkable success in expanding its defence manufacturing capabilities.

Notably, the Ministry of Defence witnessed historic growth in exports last year, driven by heightened global interest in Indian defence products such as LCA-Tejas, light combat helicopters, and aircraft carriers.

India’s defence products are now exported to over 85 countries, showcasing the prowess of its defence industry. With over 100 firms actively engaged in defence product exports, India has successfully exported sophisticated defence systems like the 155 mm Advanced Towed Artillery Guns and BrahMos Missiles to various nations.