The private sector and DPSUs contributed for approximately 60% and 40% of total exports, respectively. According to the military minister, growth is 32.5 percent higher than in the preceding fiscal.
India’s defence exports reached an all-time high of Rs 21,083 crore in fiscal year 2023-2024, with consignments reaching 85-plus neighbouring countries and beyond.
On Monday, Defence Minister Rajnath Singh tweeted that Indian defence exports have surpassed Rs 21,000 crore for the first time since independence. This, he continued, represented a 32.5 percent increase over the previous fiscal year.
The private sector and DPSUs contributed for approximately 60% and 40% of total exports, respectively. According to the military minister, growth is 32.5 percent higher than in the preceding fiscal.
India’s defence exports reached an all-time high of Rs 21,083 crore in fiscal year 2023-2024, with consignments reaching 85-plus neighbouring countries and beyond.
On Monday, Defence Minister Rajnath Singh tweeted that Indian defence exports have surpassed Rs 21,000 crore for the first time since independence. This, he continued, represented a 32.5 percent increase over the previous fiscal year.
The Indian defense industry includes both governmental and private sector enterprises that produce defense equipment, systems, and technologies. India has exported a wide range of defense equipment, including helicopters, naval vessels, planes, missiles, and armoured vehicles, among others. The government has set a target of $5 billion in defense exports by 2025.
To promote defense exports, the Government of India formed an Export Promotion Council (EPC) in accordance with the Make in India initiative’s objectives. Key steps for promoting such exports include expediting export processes, providing financial incentives, and building relationships with foreign enterprises.
