India’s military exports reach record $1.9bn

According to Indian Defense Minister Rajnath Singh, the nation’s shipments of weapons and defense technology for the fiscal year 2022–2023 totaled Rs 159.2 billion (roughly $1.9 billion). He claimed that this is a new high.

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India’s military exports reach record $1.9bn © Daily Management Review

The minister stated on Twitter that “our defense exports will continue to grow exponentially under the inspiring leadership of Prime Minister Narendra Modi.”

By 2025, the nation hopes to reach its goal of over $3 billion in defense exports, which Mr. Singh stated in December 2022.

The minister notes that defense exports more than doubled between 2017 and 2021. India’s policy seeks to sell arms primarily to friendly nations in the Indian Ocean region and Africa.

source: indiatimes.com

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