India’s defence export surges an all-time high in 2023-24

New Delhi: India’s defence exports reached an all time high level of ₹21,083 crore in financial year 2023-24 with a 32.5% growth in FY24 compared to previous financial year, said Defence Minister Rajnath Singh.

Underlining the strong growth of private sector and Defence Public Sector Undertakings (DPSUs) over the years, Defence Minister said “defence ministry has taken several initiatives to spur India’s defence manufacturing and exports.”

“Delighted to inform everyone that the Indian Defence Exports have scaled to unprecedented heights and crossed ₹21000 crore mark for the first time in the history of Independent India,” wrote Rajnath Singh in a post on X.

“Under Prime Minister Shri Narendra Modi’s visionary leadership the Defence Ministry has taken several initiatives to spur India’s defence manufacturing and exports,” he added.

In addition, there has been a rise in the number of export authorisations issued to the defence exporters during FY 2023-24. From 1,414 export authorisations in FY 2022-23, the number jumped to 1,507 in FY 2023-24.

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