India Emerges as a Key Player in Global Defence Exports
India's Defence Transformation Under Modi's Leadership
New Delhi, June 10: Finance Minister Nirmala Sitharaman announced on Tuesday that India has evolved into a significant defence exporter under Prime Minister Narendra Modi's guidance, enhancing national security and establishing itself as a reliable partner in global peace efforts.
According to Sitharaman, the defence sector in India has seen remarkable changes over the past decade, with defence exports skyrocketing by more than 1,100%, rising from ₹1,941 crore in 2014 to a record ₹23,662 crore in 2024. Currently, India supplies military equipment to over 100 nations.
She emphasized that for the fiscal year 2025-26, 75% of the defence capital acquisition budget is allocated for domestic manufacturing.
The Finance Minister noted that more than 5,000 items have been included in the defence indigenisation lists as part of the government's Aatmanirbharta initiative.
India's defence production, which stood at ₹43,000 crore a decade ago, has now surged to an impressive ₹1,46,000 crore, with the private sector contributing over ₹32,000 crore.
The Make-in-India initiative has proven vital for national security, as demonstrated during Operation Sindoor, showcasing India's capability to breach enemy defenses.
Sitharaman also highlighted the Modi government's accomplishments in national security and foreign policy, citing the success of Operation Sindoor, which resulted in the elimination of over 100 terrorists through missile strikes on nine terrorist bases in Pakistan and Pakistan-occupied Kashmir.
In terms of foreign policy, she mentioned the evacuation of over 22,500 Indians from Ukraine following Russia's military actions, along with the repatriation of another 3,000 Indians from conflict-ridden Sudan.
Additionally, Sitharaman pointed out India's significant role as a global vaccine supplier during the Covid-19 pandemic, delivering over 30 crore vaccine doses to more than 100 countries to help combat the virus.