India’s defence exports surged by 1,100 pc in last 10 years: FM Nirmala Sitharaman
New Delhi: Finance Minister Nirmala Sitharaman said on Tuesday that under the leadership of Prime Minister Narendra Modi, India has transformed into an emerging defence exporter, strengthening national security and becoming a trusted partner in global peace.
“India’s defence sector has undergone a major transformation in the last decade. India’s defence exports have grown by over 1,100% in the last decade from ₹1,941 crore in 2014 to an all-time high of ₹23,662 crore in 2024. The country now exports military hardware to over 100 countries,” the Finance Minister said in a statement on X.
She underscored that 75 per cent of the defence capital acquisition budget has been earmarked for domestic production in the financial year 2025-26.
The Finance Minister further pointed out that over 5,000 items have been added to the defence indigenisation lists as part of the government’s Aatmanirbharta campaign.
India’s defence production, which was only Rs 43,000 crore 10 to 11 years ago, has now crossed a record figure of Rs 1,46,000 crore, with the private sector’s contribution of over Rs 32,000 crore.
The government’s Make-in-India campaign has turned out to be crucial for security, with the use of indigenous systems during Operation Sindoor proving that India has the power to penetrate any armour of the enemy.
FM Sitharaman also highlighted the national security and foreign policy achievements of the Modi government. She mentioned the success of Operation Sindoor, in which over 100 terrorists were killed in the missile attacks on nine terrorist bases in Pakistan and Pakistan-occupied Kashmir.
Among the foreign policy initiatives undertaken for the security of Indian nationals, the Finance Minister has listed the evacuation of over 22,500 Indians from Ukraine after the launch of Russia’s military operation, while another 3,000 Indians were brought back home from conflict-torn Sudan.
Sitharaman has also highlighted India’s role as a vaccine supplier to the world during the devastating Covid-19 outbreak. The country supplied over 30 crore vaccine doses to more than 100 countries to contain the spread of the deadly disease, she added.