India to Increase Arms Exports, Ministry of Defense Announces

India's defense exports, which surpassed $2.5 billion in the 2023-2024 fiscal year, will continue to grow. This was announced by the country's Defense Minister Rajnath Singh.

“In 2014, we exported defense products worth 6 billion rupees (72 million dollars), but now that figure has exceeded 210 billion rupees (2.5 billion dollars), and I can say that it will increase,” he stated.

The Defense Minister also noted that today India's defense production volume has reached $12 billion.

According to a recent report by the Stockholm International Peace Research Institute, India ranks fourth in the world in military spending in 2023, with New Delhi's arms expenditures amounting to $83.6 billion.