Record Growth in Indian Defence Exports: A Milestone Achievement
The Ministry of Defence (MoD) announced that India’s defence exports surged to a record Rs 21,083 crore in the fiscal year 2023-24, marking a remarkable growth of 32.5% from the previous year. This achievement is attributed to the concerted efforts of both the private sector and Defence Public Sector Undertakings (DPSUs), supported by policy reforms and initiatives aimed at facilitating ease of doing business.
Tensions with neighboring countries continue to drive India’s arms imports, necessitating a comprehensive approach towards bolstering indigenous defence capabilities.
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