NEW DELHI: Rajnath Singh, India's defence minister, claimed on Saturday that the country's defence exports, which totaled Rs. 15,920 crore in the fiscal year 2022–2023, reached a record high. The rise was hailed as a remarkable success for the nation by the defence minister.
Singh detailed India's exports of military hardware, noting that they totaled Rs. 8,434 crore in 2020–21, Rs. 9,115 crore in 2019–20, and Rs. 10,745 crore in 2018–19.
The amount was Rs. 4,682 crore in 2017–18 and Rs. 1,521 crore in 2016–17. Moreover, Singh indicated that by 2024–2025, the government aims to produce defence hardware worth Rs. 1,75,000 crore and increase defence exports to Rs. 35,000 crore.
The government has put in place a number of initiatives recently to encourage domestic defence manufacture.
The government has set the target of manufacturing defence hardware worth Rs.1,75,000 crore and take defence exports to Rs.35,000 crore by 2024-25. In the last few years, the union government has taken a series of steps to promote domestic defence production.
The counttry exported military hardware worth Rs8,434 crore in 2020-21, Rs. 9,115 crore in 2019-20, and Rs.10,745 crore in 2018-19, as per details provided by Singh.
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