|
Defence Minister Rajnath Singh on Thursday said under the leadership of Prime Minister Narendra Modi, India has achieved a historic milestone in defence exports, reaching an all-time high of 38,424 crore in the fiscal year 2025-26, marking a significant 62.66% growth over the previous year.
In a post on X, Singh said that this jump from the previous year reflects global trust in India's indigenous capabilities and advanced manufacturing strength. "Under the inspiring leadership of PM Shri @narendramodi, India is scripting an impressive defence exports success story! India defence exports have touched a new all time high with a record 38,424 crore in FY 2025-26. It marks a robust 62.66% growth over the previous fiscal. This big jump of 14,802 crore in defence exports reflects the growing global trust in India's indigenous capabilities and advanced manufacturing strength," he said. The Defence Minister added that the record-setting performance reflects contributions from both public and private sectors, with Defence Public Sector Undertakings (DPSUs) accounting for 54.84% and the private industry 45.16% of the exports, underscoring the strength of a collaborative and self-reliant defence ecosystem. "With DPSUs contributing 54.84% and private industry 45.16%, this milestone showcases the power of a collaborative and self-reliant defence ecosystem," the post added. https://x.com/rajnathsingh/status/2039552441482695102 Earlier, while addressing an event in March, Singh had pointed out that government efforts are yielding results: in FY 2024-25, domestic defence production surpassed 1.50 lakh crore, and defence exports touched an all-time high of approximately 24,000 crore. He added that by April 2026, exports were poised to reach around 29,000 crore, with the government setting a target of 50,000 crore in defence exports by FY 2029-30. Highlighting the growing role of private industry, Singh stated that the sector today contributes around 25% of defence platforms, equipment, and accessories, with expectations to reach 50% of total production by value in the near future. He also emphasised that all warships and submarines on order for the Indian Navy are being built in Indian shipyards, from design and engineering to construction and lifecycle support, terming it a major leap towards self-reliance: "Self-reliance is no longer just a slogan; it is being established as a practical reality. A Builder's Navy is not a slogan; it is a ground reality." (ANI)
|
