Union Minister Ajay Bhatt stated that India is achieving self-sufficiency in defence production and has, for the first time, emerged as the leader among the top 25 countries in defence exports.
Speaking at the Advantage Vidarbha program in Nagpur on Sunday, the Minister of State for Defence highlighted the government’s proactive measures, including the prohibition of imports for 4,666 defence components, resulting in substantial cost savings.
Bhatt emphasised, “India, for the first time, is leading a group of top 25 countries in defence export as it is becoming self-reliant in defence production.”
“The defence exports rose from Rs 4,682 crore in 2017-18 to Rs 15,916 crore in 2022-23. (Defence) export till December 2023 is about Rs 9,428 crore,” the Union minister further mentioned.
Ajay Bhatt also noted the successful decentralization of ordnance factories, leading to the profitability of almost all defence Public Sector Undertakings (PSUs).
Additionally, he emphasised the defence ministry’s commitment to fostering innovation and technology within the sector.
This development underscores India’s strides towards self-sufficiency in defence production and its newfound position as a leader in the global defence export market.