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India records defence exports worth ₹15,920 crore in 2022-23: Rajnath Singh

1 min read Livemint 01 Apr 2023, 01:09 PM IST

Defence Minister hailed the rise as a remarkable achievement for the country.

Defence minister Rajnath Singh. (Photo: Pradeep gaur/mint)

Defence Minister Rajnath Singh on Saturday said that India has achieved an all-time high in defence exports, reaching ₹15,920 crore in the financial year 2022-2023.

Defence Minister hailed the rise as a remarkable achievement for the country.

India’s defence exports have reached an all-time high of ₹15, 920 crore in FY 2022-2023. It is a remarkable achievement for the country.

Under the inspiring leadership of PM Shri @narendramodi, our defence exports will continue to grow exponentially. pic.twitter.com/rav4En4lAH
— Rajnath Singh (@rajnathsingh) April 1, 2023

Singh provided details on India's defence exports, revealing that the country exported military hardware worth ₹8,434 crore in 2020-21, ₹9,115 crore in 2019-20, and ₹10,745 crore in 2018-19.

The amount in 2017-18 was ₹4,682 crore and ₹1,521 crore in 2016-17. Singh also announced that the government has set a target of manufacturing defence hardware worth ₹1,75,000 crore and taking defence exports to ₹35,000 crore by 2024-25.

In recent years, the government has implemented various measures to promote domestic defence production.

(With PTI inputs)

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Updated: 01 Apr 2023, 01:09 PM IST

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