India ranks among top 25 global arms exporters, reports Finance Minister

India has become one of the top 25 arms exporters in the world, according to Finance Minister Nirmala Sitharaman. This marks a significant shift from being the second-largest arms importer between 2015 and 2019. In the financial year 2023-24, India achieved a record defence production value of Rs 1.27 lakh crore and defence exports of Rs 21,083 crore. This represents a 30-fold increase in exports since 2013-14. Sitharaman attributed this growth to strong policy support and investments under Prime Minister Narendra Modi. She also noted improvements in coastal security and port infrastructure, highlighting India's increasing self-reliance in the defence sector.