Private sector-DPSUs contribution to export was about 60% and 40%
Defence exports have touched a record Rs.21,083 crore (approx. US$2.63 billion) in the Financial Year (FY) 2023-24, a growth of 32.5% over last fiscal’s Rs.15,920 crore, Ministry of Defence https://mod.gov.in/ said on 1 Apr.
The defence Industry, including the private sector and Defence Public Sector Undertakings (DPSUs), have made tremendous efforts in achieving the highest-ever defence exports. The private sector https://www.sidm.in/ and the DPSUs have contributed about 60% and 40% respectively.
Export authorised products in FY 2022-23 was 1,507 in FY 2023-24, up from 1,414 in 2023-24.
The remarkable growth has been achieved due to the policy reforms and ‘Ease of Doing Business’ initiatives brought in by the Government, in addition to the end-to-end digital solution provided to the Indian industries for promoting defence exports.
“This growth is a reflection of global acceptability of Indian defence products and technologies https://www.state.gov/ ,” said the Ministry. Fiinews.com
