Empowering MSMEs with News & Insights

India’s defence export triples in FY23 at Rs 13,399 cr against FY18

Updated: Mar 14, 2023 12:56:09pm
image

India’s defence export triples in FY23 at Rs 13,399 cr against FY18

New Delhi, Mar 14 (KNN) India recorded Rs 13,399 crore worth exports of military hardware as on March 6, 2023 which is a three-fold increase from Rs 4,682 crore in 2017–18.

This information was shared by Ajay Bhatt, the state minister for defence in the Rajya Sabha.

FOLLOW US on GOOGLE NEWS

The total defence exports in 2021–22 were USD 12,815 whereas they were USD 8,435 in 2020–21, USD 9,116 in 2019–20, and USD 10,746 in 2018–19, as per the official data.

Highlighting government’s focus on the indigenisation of various defence items to achieve 'Aatmanirbharta' (self-reliance), he said “The indigenised items made from local resources become globally cost competitive and it also facilitates the integration of MSMEs in the global supply chain.”

He further added that DRDO's new tech is being transferred to industries without any fee.

To a related query, Bhatt responded that there are currently 45,906 acres of defence land that is unoccupied and managed by various services and organisations of the Ministry of Defence.

In response to a different query, Bhatt stated that the Defence Ministry has lowered the restricted zone surrounding the perimeter of the defence establishment at various locations from 100 metres to 50 metres.  (KNN Bureau)

COMMENTS

    Be first to give your comments.

LEAVE A REPLY

Required fields are marked *