In a remarkable development, India’s defense sector has witnessed a significant surge in exports, showcasing an extraordinary growth rate of 10 times within a span of six years. Comparing the figures from the year 2016-17, when defense exports stood at Rs 1,521 crore, to the year 2022-23, the sector has recorded an impressive surge, reaching a staggering Rs 15,920 crore. This exponential growth in defense exports reflects the country’s expanding capabilities and increasing global demand for Indian defense products. The substantial increase in exports highlights India’s growing prowess in the defense industry and signals a positive trajectory for the country’s defense sector in the years to come.
