India’s defence exports reached an all-time high of ₹ 15,920 crore in the financial year 2022-2023, Defence Minister Rajnath Singh said today describing the rise as a remarkable achievement.
The country’s defence exports in 2021-22 was ₹ 12,814 crore, according to official data.
“India’s defence exports have reached an all-time high of ₹ 15,920 crore in FY 2022-2023. It is a remarkable achievement for the country,” Rajnath Singh said on Twitter.
“Under the inspiring leadership of PM Shri @narendramodi, our defence exports will continue to grow exponentially,” he said.
India’s defence exports have reached an all-time high of Rs 15, 920 crore in FY 2022-2023. It is a remarkable achievement for the country.
Under the inspiring leadership of PM Shri @narendramodi, our defence exports will continue to grow exponentially. pic.twitter.com/rav4En4lAH
— Rajnath Singh (@rajnathsingh) April 1, 2023
India exported military hardware worth ₹ 8,434 crore in 2020-21, ₹ 9,115 crore in 2019-20, and ₹ 10,745 crore in 2018-19, according to details provided by Rajnath Singh.
The amount in 2017-18 was ₹ 4,682 crore and ₹ 1,521 crore in 2016-17.
The government has set the target of manufacturing defence hardware worth ₹ 1,75,000 crore and take defence exports to ₹ 35,000 crore by 2024-25.
In the last few years, the government has taken a series of measures to promote domestic defence production.
