India's Defence Exports Reach Record High

India's defence exports surged to Rs 23,622 crore in 2024-25, marking a 12.04% increase from the previous year. Prime Minister Modi and Defence Minister Singh lauded this growth, seeing it as a step towards self-reliance. India aims to hit Rs 50,000 crore by 2029.

In a significant achievement for India's defence sector, exports have reached a record Rs 23,622 crore (approximately USD 2.76 billion) in the fiscal year 2024-25, reflecting a growth of 12.04% from the previous year. Defence Minister Rajnath Singh highlighted these figures on Tuesday, commending the stakeholders involved.

Prime Minister Narendra Modi celebrated the accomplishment, describing it as a 'proud milestone' in India's journey toward self-reliance and global leadership in defence production. The strategic push has set a new target of Rs 50,000 crore in defence exports by 2029, signaling robust future growth.

The Defence Public Sector Undertakings (DPSUs) and private sectors significantly contributed to this success, experiencing a notable export surge of 42.85% and presenting Indian products' increasing global acceptability. The number of exporters and export authorisations issued have also increased markedly, supporting India's integration into the global supply chain.

(With inputs from agencies.)