India’s defence exports have reached a record Rs 21,083 crore in FY2023-24, marking a 32.5% increase from the previous fiscal year. The Defence Ministry reported that the private sector and DPSUs contributed 60% and 40%, respectively, towards this growth, with Defence Minister Rajnath Singh expressing confidence in meeting the target of Rs 50,000 crore in exports by 2029. Additionally, efforts to boost Aatmanirbharta in defence and reduce imports led to the notification of the fifth Positive Indigenisation List consisting of 346 items in July.
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