Gandhinagar: India registered defence exports worth Rs 8,000 crore in six months of the current financial year and aims to achieve the target of outbound shipments of Rs 35,000 crore by 2025, Defence Minister Rajnath Singh said on Monday.
He was speaking at the curtain raiser event of Defence Expo (DefExpo), scheduled to be held from October 18 to 22 in Gandhinagar. Singh said India's defence sector has registered exports worth Rs 30,000 crore after 2014 when the Narendra Modi government assumed office at the Centre. He said India is progressing speedily on the path to achieve global standards of design, development and manufacturing of defence equipment. "Before 2014, we used to achieve (defence) exports of Rs 900 crore-Rs 1,300 crore.
But we have achieved exports worth more than Rs 30,000 crore to date (since 2014). We can add another Rs 8,000 crore-Rs 9,000 crore of the export target (this year)," Singh said. We target to achieve (annual defence) exports worth Rs 35,000 crore by the end of FY 2025. We have achieved exports worth Rs 8,000 crore in six months (of FY 2022-23)," Singh said at the curtain raiser event attended by media persons. Officials said so far 451 agreements related to the defence sector with proposed investment of Rs 1.50 lakh crore have been signed in run up to the DefExpo.
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