Narendra Modi s dialogue on India s defence exports with Vladimir Putin in September 2022 led to a remarkable surge of ₹21,083 crore in 2023-24. This growth, driven by various initiatives and partnerships, underscores the evolving landscape of India s defence industry. 2023-24 has witnessed a big increase, from ₹15,920 crore in 2022-23 to ₹21,083 crore, representing an increase of 32.43%. Notwithstanding the pandemic serving as a dampener, at no stage before the last decade have Indian defence exports experienced such a steep upward trajectory.
The transformation underway in the defence industrial complex has set the stage for multiple stakeholders to rally and promote domestic technological innovation
The Union minister also said that India’s defence exports have reached to the level of Rs 21,083 crore in the financial year 2023-24 which is a "spectacular growth” of 32.5 per cent over the previous fiscal
India’s defence exports have experienced a remarkable eight-fold increase over the last five years, according to Binay Kumar Das, director general (DG) of electronics and communication system at the Defence Research and Development Organisation (DRDO). India is all set to challenge the global defence market with a wide range of products, including bulletproof jackets and advanced missiles like Dhanush.
India News: Defence Minister Rajnath Singh announced that India's annual defence production is expected to reach Rs 3 lakh crore in the next four years, with expo