India is now among top 25 arms exporters: Nirmala Sitharaman

NEW DELHI: Union finance minister Nirmala Sitharaman on Monday announced that India is now amongst the world's top 25 arms exporters.
"From being the second largest arms importer in 2015 to 2019, as I said, India is now among the top 25 arms exporters with over 100 companies exporting products like BrahMos missiles, Pinaka rocket systems, and Dornier aircrafts," she said while speaking at Rashtriya Raksha University's 4th Convocation Ceremony in Gandhinagar.
She further highlighted progress in domestic defence manufacturing. The defence production value reached Rs 1.27 lakh crore in fiscal year 2023-24, showing a substantial increase of 2.7 times compared to 2014-15.
The country's defence exports achieved a record Rs 21,083 crore in 2023-24, demonstrating exceptional growth from Rs 686 crore in 2013-14, indicating a thirty-fold increase within ten years.
"Now, India has achieved the highest ever growth in indigenous defence production, and this is where I'd like to share the number. In value terms, today we've reached a record high of Rs 1.27 lakh crores in 2023-24," she said.
"I'd like to highlight the fact that in the last few years, the emphasis given to defence production in this country is a matter of pride. Not just investments, policy support has made India today a net exporter of defence components. Earlier we were one of the biggest importers, and today when you have exports happening from India," she added.
Additionally, she highlighted the importance of coastal security and maritime trade in national security.