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Defence production shoots up: India now among top 25 arms exporting nations
The Morning Standard
|July 23, 2024
SURVEY INDIA'S rising production of defence equipment and systems is changing its narrative as the world's second-largest arms importer.
The Economic Survey 2024 highlights that India's defence production grew substantially from ₹74,054 crore in FY17 to ₹108,684 crore in FY23, boosting defence exports.
Between 2015 and 2019, India was known as the world's second-largest arms importer. However, the narrative has shifted, as detailed in the Economic Survey. It states, "India has transitioned from being an arms importer to securing a place in the list of the top 25 arms-exporting nations."
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