ENA Sectors 2025-01-14 17:10:24 <p><span style="font-size:14px"><strong>New Delhi, Jan 14 (KNN)</strong> In a significant shift from its previous status as the world's second-largest arms importer, India has now secured a position among the top 25 global arms exporters, according to Union Finance Minister Nirmala Sitharaman.</span></p> <p><span style="font-size:14px">Speaking at the 4th Convocation Ceremony of Rashtriya Raksha University in Gandhinagar, she noted that over 100 Indian companies are now exporting advanced military hardware, including BrahMos missiles, Pinaka rocket systems, and Dornier aircraft.</span></p> <p><span style="font-size:14px">The nation's defence manufacturing sector has demonstrated remarkable growth, with production value reaching Rs 1.27 lakh crore in fiscal year 2023-24, representing a 2.7-fold increase compared to 2014-15.</span></p> <p><span style="font-size:14px">Defence exports have shown even more dramatic growth, achieving a record Rs 21,083 crore in 2023-24, marking a thirty-fold increase from Rs 686 crore in 2013-14.</span></p> <p><span style="font-size:14px">During her address, Sitharaman emphasised that this transformation has been driven by strategic investments and supportive policy measures, which have helped transform India from a major defence importer to a net exporter of defence components.</span></p> <p><span style="font-size:14px">The Finance Minister also underscored the crucial role of coastal security and maritime trade in maintaining national security, highlighting the comprehensive nature of India's defence strategy.</span></p> <p><span style="font-size:14px">This evolution in India's defence sector represents a significant milestone in the country's push toward self-reliance in military equipment manufacturing and its emerging role as a global defence industry player.</span></p> <p><span style="font-size:14px">The substantial growth in both production and exports reflects the success of government initiatives aimed at strengthening domestic defence capabilities while reducing dependency on imports.</span></p> <p><em><strong><span style="font-size:14px">(KNN Bureau)</span></strong></em></p> 40644 https://knnindia.co.in/news/newsdetails/sectors/india-transitioning-from-major-importer-to-top-25-global-arms-exporters 2025-01-14 17:10:24 knnindia.co.in