India arms export: Finance Minister, Nirmala Sitharaman recently announced that India has now become one of the top 25 global arms exporters. She shared this achievement while speaking at the 4th Convocation Ceremony of Rashtriya Raksha University in Gandhinagar, Gujarat.
She stated, “From being the second largest arms importer in 2015 to 2019, as I said, India is now among the top 25 arms exporters with over 100 companies exporting products like BrahMos missiles, Pinaka rocket systems, and Dornier aircrafts.”
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She highlighted the significant growth in India’s indigenous defence production. In the financial year 2023-24, the country reached a record high production value of ₹1.27 lakh crore, which is a 2.7 times increase compared to 2014-15! Defence exports also saw a massive rise, hitting ₹21,083 crore in 2023-24, a big jump from ₹686 crore in 2013-14, marking a 30x increase in a decade.
She said, “Now, India has achieved the highest ever growth in indigenous defence production, and this is where I’d like to share the number. In value terms, today we have reached a record high of ₹1.27 lakh crores in 2023-24.”
The Finance Minister credited this progress to strong policy measures and investments under Prime Minister Narendra Modi’s leadership.
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She stated, “I’d like to highlight the fact that in the last few years, the emphasis given to defence production in this country is a matter of pride. Not just investments, policy support has made India today a net exporter of defence components. Earlier, we were one of the biggest importers, and today you have exports happening from India”, reported by NDTV.
Sitharaman also underlined the critical role of coastal security and maritime trade in national defence. She praised Rashtriya Raksha University for training India’s coastal security forces and emphasized that more than 80% of global goods are transported via ships.
She further noted the government’s commitment to improving port infrastructure. “Over the last decade, we have doubled the capacity of our ports. And I want you to be sure that the policy of Prime Minister Narendra Modi is to ensure that our borders are given that much attention with policy and money.”
These developments reflect India’s growth in self-reliance and its increasing presence in the global arms trade, showcasing its potential as an important player in the defence sector in the world.
