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India exported arms worth 21 thousand crores in one year

April 2, 2024 3:44 am

India exported arms worth 21 thousand crores in one year

Western countries have been monopolizing the arms market for a long time. In the meantime, India announced its existence. For the first time, the country set a precedent by exporting weapons worth more than 21 thousand crore rupees in the world market. India’s Union Defense Minister Rajnath Singh disclosed this information on Monday (01 April) on social media. He also praised Prime Minister Narendra Modi for this success.

Defense Minister Rajnath Singh writes on the X handle, “We are very happy to inform the countrymen that we have achieved unprecedented success in the export of arms and defense materials of the country. 21 thousand crores worth of defense goods have been exported in the current financial year. This is the first time in the history of independent India.

He also said that compared to the fiscal year 2023-24, the export of defense equipment has increased by 32.5 percent, amounting to 21 thousand 83 crores.

Meanwhile, although India has a place in the list of arms importers, recently the central government has called for ‘Self-reliant India’. In this regard, although the import process is ongoing, huge success has been noticed in the last few years in arms export.

In January 2022, India signed a BrahMos Supersonic Cruise Missile contract with the Philippines for $370 million. The country’s defense exports also increase at a significant rate with the participation of private companies in the military sector. At present defense goods are being exported commercially with more than 85 countries. The production list includes fighter planes, missiles, rocket launchers etc.

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