India’s defence exports skyrocket to $2.5 billion in 2023-24: Marks a 30-fold leap over past ten years

India reached a historic milestone in defence exports, achieving $2.5 billion in the fiscal year 2023-24, a 25% increase from the previous year, according to the Economic Survey 2023-24. This growth, driven by efforts from both private and public sectors and strategic policy initiatives, places India among the top 25 arms exporters globally. Despite this success, India remains the world's largest arms importer, accounting for 9.8% of global imports. The country continues to focus on enhancing self-reliance in defence production.