Indian Defense Export Hits 2.62 Billion Dollars highest ever in History

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India defense minister Rajnath Singh on Monday informed that the Defense Export of India for the year 2023-2024 has hit all time high touching mark of $2.62 Billions USD which is highest ever in the history of independent India. On year on year basis the growth in defense export this year is 32.5 percent. This is the result of all the steps taken by current government for the promotion  of defense export of country and making it a net exporter in term of defense equipment.
Make in India initiative for defense initiated by Indian government back in 2014 played a crucial role for this growth. From an export of Rs 686 Crores in year 2013-2014 majorly to South east Asian countries and African continent to Rs 2059 Crore after the announcement of Make in India in year 2015-16 the export grew drastically but were stagnant for upcoming year with a numbers of Rs 8435 Crores in 2020-21.

But in past few years the effect of Anti China policy world wide help India to grew it's reach to various countries resulting in numbers of Rs 12815 crores (2021-22), Rs 15920 crores (2022-23) and Rs 21083(2023-24) showcasing trust on Indian defense equipment. India has set defense export target of Rs 35000 ($4 billion USD) for year 2024-25 currently exporting to 85 countries with 100 exporting firms moving ahead the numbers.
Comparing to other countries, US export worth of $238 billion USD leading the defense export market. This rise in Indian exports is due to fall in Chinese export as result of defective quality and unreliable performance with 40 percent exports to Pakistan only. Whereas India exports it's equipment to countries such as Italy, Maldives, Sri Lanka, Russia, UAE, Poland, Philippines, Saudi Arabia, Egypt, Israel, Spain Chile, among others.
Major exports comprise of Personal Protective Items, Offshore Patrol vehicles, ALH Helicopters, SU Avionics, Coastal Surveillance Systems, Light Engineering Mechanical Parts, Kavach MoD, others. Country is eyeing for the export of Brahmos missile, Tejas aircraft and pitching many more other equipment to various countries.

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