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India’s Defence Exports Touch Record Rs 21,083 Crore In 2023-24, Up 32.5%

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New Delhi: India’s defense exports have surged to a historic high, reaching Rs 21,083 crore in the financial year 2023-24, marking a substantial 32.5 percent increase from the previous fiscal year’s figure of Rs 15,920 crore.

Taking to X, Defence Minister Rajnath Singh congratulated all stakeholders on crossing the new milestone in defence exports. He wrote, “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.”

HIGHLIGHTS

  • The recent figures indicate that the defence exports have grown by 31 times in the last 10 years.
  • Additionally, there has been a rise in the number of export authorisations issued to the defence exporters during 2023-24. From 1,414 export authorisations in 2022-23, the number jumped to 1,507 in 2023-24, the ministry said
  • Total defence exports during 2004-05 to 2013-14 were Rs 4,312 crore, which has gone up to Rs 88,319 crore in the period from 2014-15 to 2023-24.
  • A comparative data of two decades — the period from 2004-05 to 2013-14 and 2014-15 to 2023-24 reveals that there has been a growth of 21 times in the defence exports.

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