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INDIA'S DEFENCE EXPORT: A 14-FOLD LEAP IN 7 YEARS
The Business Guardian
|July 14, 2024
India’s defense exports have skyrocketed, increasing 14 times from FY 2016-17 to FY 2023-24.
This leap from Rs1,522 crore to over Rs 21,000 crore underscores the country’s rising prowess as a global arms supplier and highlights the significant role of the private sector in this transformation.
Proactive government policies have been key to this remarkable rise. Initiatives like “Make in India” and “Atmanirbhar Bharat” (SelfReliant India) have created a robust defense manufacturing ecosystem. By simplifying export procedures, offering financial incentives, and encouraging private sector involvement, the government has set the stage for defense exports to thrive.
This story is from the July 14, 2024 edition of The Business Guardian.
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