Updated January 28th, 2024 at 19:50 IST
India leading in defence export: Union Minister
The central government has issued four lists of 4,666 defence components whose import is banned, resulting in huge savings
Defence Exports: India is becoming self-reliant in defence production, and for the first time, leading the top 25 countries in defence exports, Union Minister, Ajay Bhatt, said on Sunday.
He said the government has issued four lists of 4,666 defence components whose import is banned, resulting in huge savings.
The Minister of State for Defence was speaking at the Advantage Vidarbha programme in Nagpur.
"India, for the first time, is leading a group of top 25 countries in defence export as it is becoming self-reliant in defence production.
"The defence exports rose from Rs 4,682 crore in 2017-18 to Rs 15,916 crore in 2022-23. (Defence) export till December 2023 is about Rs 9,428 crore," the Union Minister said
Bhatt said almost all defence public sector undertakings (PSUs) are in profit after the ordnance factories were decentralised.
Further, Bhatt said that the Ministry of Defence, Government of India is focused on promoting innovation and technology.
Published January 28th, 2024 at 19:49 IST