India's defence exports crossed Rs 21 thousand crore for the first time; Defense Minister gave credit to PM Modi

The budget for defense in India has surpassed Rs. 21 thousand crores for the first time. This information was provided by Social Media tweets from Defense Minister Rajnath Singh. According to Rajnath Singh, he is overjoyed to report that India's defense exports have risen to a record-breaking 21 thousand crores. In India's history as an independent nation, this has never occurred before. The amount of defence exports from India in the fiscal year 2023–2024 was Rs 21,083 crore, a 32.5% rise over the previous fiscal year.

"This growth has been seen in India's defence exports due to the visionary leadership of PM Modi and the efforts made by the Defense Ministry," tweeted Defense Minister Rajnath Singh. The Defense Minister said 'Our defence industry, including private and DPSUs, has done excellent work in recent years. Congratulations to all the shareholders for touching new heights in the field of defence exports.

In January 2022, India signed a deal with the Philippines for BrahMos supersonic cruise missile. This deal was worth about 37 crore dollars. Talks are also going on with many other countries regarding India's defence exports. The country's defence exports have also increased significantly with the participation of the private sector. India's defense exports are to more than 85 countries. More than 100 companies in the country are exporting defence products to other countries. These include fighter planes, missiles rocket launchers etc.