India's Defence Exports Cross an All-Time High of Rs 20,000 Crore: Rajnath Singh

New Delhi: Marking a significant achievement in history of independent India, defence exports have reached an all-time level of Rs 21,083 crore in financial year 2023-2024. This means a total of 32.3% growth in FY24 has been observed as compared to previous financial year.

figures were announced by Defence Minister Rajnath Singh on X on Monday. post re, "Delighted to inform everyone that Indian Defence Exports have scaled to unprecedented heights and crossed Rs 21000 crore mark for first time in history of Independent India!"

“India’s defence exports have recahed to level of Rs.21,083 Crore in financial year 2023-24 which is a spectacular growth of 32.5% over previous fiscal,” it re furr.

Highlighting strong growth of private sector and DPSUs over years, Singh said “defence ministry has taken several initiatives to spur India’s defence manufacturing and exports."Our defence industries including Private Sector & DPSUs have registered a commendable performance in recent years. Congratulations to all stakeholders on crossing new milestone in defence exports."

He credited Prime Minister Narendra Modi for his visionary leership to spur India's defence manufacturing and exports.

This comes as in financial year (FY) 2022-23, Ministry of Defence exports have reached nearly Rs 16,000 crore, which marked an increase of almost Rs 3,000 crore from previous fiscal year.

However, defence production in FY 2022-23 surpassed Rs one lakh crore, marking a significant increase from Rs 95,000 crore in FY 2021-22.