India’s Defence Minister Rajnath Singh on Monday said that for the first time in the history of Independent India, the country’s defence exports have touched an all time high of INR 21,000 crore in the financial year 2023-24, which is 32.5 percent more than the previous fiscal.
In his X post, Rajnath Singh said, “Delighted to inform everyone that the Indian Defence Exports have scaled to unprecedented heights and crossed Rs 21,000 crore mark for the first time in the history of Independent India!”
Singh said that under Prime Minister Narendra Modi’s ‘visionary leadership’, the Defence Ministry had taken several initiatives to spur India’s defence manufacturing and exports.
“Our defence industries including the Private Sector & DPSUs have registered a commendable performance in the recent years. Congratulations to all stakeholders on crossing the new milestone in defence exports,” he said.
Singh shared the information at a time when India is gearing up to elect a new Lok Sabha (lower house of the Indian Parliament).
India will vote in seven phases from April 19 to elect a new Lok Sabha.
The counting of votes will take place on June 4.