India is now among top 25 Global Defence Exporters : Economic Survey 2023-24
🌟The Ministry of Defence (MoD) data highlighted a remarkable increase in India's annual domestic defence production, which reached nearly Rs 1.27 trillion in FY24,
a 16.7% rise from Rs 1.09 trillion in the previous fiscal year.
🌟This surge is attributed to substantial efforts by both the private defence sector and defence public sector undertakings.
🌟The Economic Survey reported a rise in the number of export authorisations issued to defence exporters.
🌟The number of authorisations grew from 1,414 in FY23 to 1,505 in FY24, representing a growth of approximately 6.6% year-on-year.
🌟This increase has facilitated the expansion of India's defence exports.
India's defence industry, comprising around 100 domestic companies, exports a wide variety of products and equipment. These include ,
Dornier-228 aircraft,
BrahMos supersonic cruise missiles,
Pinaka multi-launch rocket systems,
Akash air defence missiles,
artillery guns
, radars,
simulators, and
armoured vehicles.
The diversity and quality of these exports have contributed significantly to India's standing among the top 25 arms exporter nations.
#DefenceBudget
🌟The Ministry of Defence (MoD) data highlighted a remarkable increase in India's annual domestic defence production, which reached nearly Rs 1.27 trillion in FY24,
a 16.7% rise from Rs 1.09 trillion in the previous fiscal year.
🌟This surge is attributed to substantial efforts by both the private defence sector and defence public sector undertakings.
🌟The Economic Survey reported a rise in the number of export authorisations issued to defence exporters.
🌟The number of authorisations grew from 1,414 in FY23 to 1,505 in FY24, representing a growth of approximately 6.6% year-on-year.
🌟This increase has facilitated the expansion of India's defence exports.
India's defence industry, comprising around 100 domestic companies, exports a wide variety of products and equipment. These include ,
Dornier-228 aircraft,
BrahMos supersonic cruise missiles,
Pinaka multi-launch rocket systems,
Akash air defence missiles,
artillery guns
, radars,
simulators, and
armoured vehicles.
The diversity and quality of these exports have contributed significantly to India's standing among the top 25 arms exporter nations.
#DefenceBudget
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