Indian Defense Sector Growth: India is continuously becoming stronger in the defense sector. In the year 2023-24, India has exported arms worth Rs 21 thousand crores. Union Finance Minister Nirmala Sitharaman informed about this achievement during a program at the National Defense University in Gandhinagar on Monday. He said that India has now become one of the top 25 countries in the world in exporting arms.
The country became stronger in defense sector
Nirmala Sitharaman said that from 2015 to 2019, India was the second largest importer of arms in the world. Now more than 100 companies are exporting weapons like BrahMos missile, Pinaka rocket system and Dornier aircraft. In the year 2013-14, India exported arms worth Rs 686 crore. Which increased to Rs 21,083 crore in the year 2023-24. Thus, India has achieved a historic achievement by exporting 30 times more arms in a decade.
Arms production worth Rs 1.27 lakh crore
Regarding the increase in the production of indigenous weapons in the defense sector, the Finance Minister said that the production of weapons in the country in the financial year 2023-24 was Rs 1.27 lakh crore. Security of a big country like India does not mean just taking care of the borders. Technology knows no boundaries today. Technology is available to increase productivity, but it is also being misused by some vested interests and negative forces.
Sitharaman said, ‘India’s development will not be liked by some ‘people’. India is moving ahead in the eyes of all our competitors. India is growing even in the eyes of those who thought such growth was surprising for an emerging democracy.’
