India's defence exports reached an all-time high of Rs 15,920 crore in the financial year 2022-2023, Defence Minister Rajnath Singh said on Saturday describing the rise as a remarkable achievement.
The country's defence exports in 2021-22 was Rs 12,814 crore, according to official data.
'India's defence exports have reached an all-time high of Rs 15,920 crore in FY 2022-2023. It is a remarkable achievement for the country,' Singh said in a tweet.
"Under the inspiring leadership of PM Narendra Modi, our defence exports will continue to grow exponentially," he added.
India exported military hardware worth Rs 8,434 crore in 2020-21, Rs 9,115 crore in 2019-20, and Rs 10,745 crore in 2018-19, according to data provided in an infographics attached to Singh's tweet.
Further, military hardware worth Rs 4,682 crore was exported in 2017-18 while the figure was Rs 1,521 crore in 2016-17.
The government has set the target of manufacturing defence hardware worth Rs 1,75,000 crore by FY25.
Earlier on Thursday (30 March), the Defence Minister said that India aims to export defence equipment worth Rs 40,000 crore by 2026.