PM Modi praises India's Defence sector growth, calls it a monumental achievement

For the first time in the history of Independent India, defence exports touched a record Rs 21,083 crore in the financial year 2023-24. India’s defence exports saw a record growth of 32.5 pc over the last fiscal year when the figure was Rs 15,920 crore. The recent figures have indicated that the defence exports have grown by 31 times in the last 10 years. Meanwhile, PM Narendra Modi called India’s defence sector growth a “monumental achievement”. The Prime Minister lauded the team’s hard work those who propelled India onto the global stage in defence. Raksha Mantri Rajnath Singh hailed PM Modi’s visionary leadership and congratulated all stakeholders. The defence industry, including private sector, has made tremendous efforts in achieving the highest-ever defence exports. The private sector and the DPSUs have contributed about 60 per cent and 40 per cent, respectively.