In a significant boost to India's defence sector, the country's defence exports witnessed a remarkable surge of 78% in the first quarter (Q1) of the fiscal year 2024-25, reaching ₹6,915 crore (approximately $800 million). This marks a substantial increase compared to the ₹3,865 crore recorded during the same period in the previous fiscal year.
The Defence Ministry attributed this remarkable growth to the government's unwavering commitment to fostering self-reliance and innovation in the defence industry.
Defence spokesperson A. Bharat Bhushan Babu highlighted the achievement on social media, stating that this leap underscores the government's dedication to setting new benchmarks in the sector.
The increase in exports can be attributed to several factors, including policy reforms aimed at promoting indigenous defence production, increased investment in research and development, and a focus on building strategic partnerships with other nations.
This positive trend in defence exports is expected to continue in the coming quarters, contributing significantly to India's economic growth and its emergence as a key player in the global defence landscape.
