Prime Minister Narendra Modi on Saturday said that India's defence exports rising to an all-time high of Rs 15,920 crore is a clear manifestation of India’s talent and enthusiasm towards "Make in India." Reacting to Defence Minister Rajnath Singh's tweet, which said that India's defence exports reached an all-time high in the fiscal year, Prime Minister said it showed the reforms in this sector over the last few years delivered good results.
"India’s defence exports have reached an all-time high of Rs 15, 920 crores in FY 2022-2023. It is a remarkable achievement for the country. Under the inspiring leadership of PM @narendramodi, our defence exports will continue to grow exponentially," Defence Minister Rajnath Singh tweeted on Saturday.
Reacting to this, PM Modi said, "Excellent! A clear manifestation of India’s talent and enthusiasm towards ‘Make in India.’ It also shows the reforms in this sector over the last few years are delivering good results. Our Government will keep supporting efforts to make India a defence production hub."
Earlier on Thursday, Rajnath Singh in a conclave had said that domestic defence production has witnessed a significant increase in the last few years. “
"We are not only catering our own needs but are also exporting weapons and equipment to other countries. From Rs 900 crore 7-8 years ago, defence exports have skyrocketed and are nearing Rs 14,000 crore in the current Financial Year. Our target is to export defence equipment worth Rs 40,000 crore by 2026,” he said.
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The Defence Minister also touched on the start-up-based innovation ecosystem created in the country. He said the government’s efforts have resulted in the creation of over 100 unicorns, which is a testament to the success of this ecosystem.