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India''s defence exports since 2014-15 estimated at Rs 35,777 crore

India''s defence exports since 2014-15 estimated at Rs 35,777 crore
outlookindia.com
1970-01-01T05:30:00+0530
New Delhi, Jun 7 (PTI) India exported military hardware and systems worth Rs 35,777 crore in the last seven years, according to a document released by Defence Minister Rajnath Singh on Monday.

The E-booklet, highlighting the major reforms undertaken by the Ministry of Defence (MoD) in 2020, also mentioned that the defence exports expanded to more than 84 countries.

"The booklet is a reflection of the resolve of the government, under the able leadership of Prime Minister Narendra Modi, to make the defence sector stronger and more efficient," Singh said.

He exuded confidence that the reforms undertaken by the MoD will make India a global powerhouse in the defence sector in the times to come.

According to the document, the value of India''s exports in 2014-15 was Rs 1,941 crore and it increased to Rs 2,059 crore in 2015-16. The value of exports in 2016-17 was recorded at Rs 1,522 crore while it went up to Rs 4,682 crore in 2017-18 and Rs 10,746 crore in 2018-19.

The value of defence exports was Rs 9,116 crore in 2019-20 and Rs 5,711 crore in 2020-21, according to the details mentioned in the document.

The compilation provided a brief overview of the defence reforms undertaken in 2020 to bring about greater cohesion and modernisation of the armed forces through policy changes, innovation and digital transformation, the statement said.

"To meet requirements of the changing technology, there is a constant effort to equip our armed forces with the latest weapons to meet challenges emanating from the land, air and sea; and by bringing about jointness and modernisation through reforms," Singh was quoted as saying in the document.

The document listed acquisitions of the Rafale fighter aircraft, the appointment of the country''s first Chief of Defence Staff, reforms in defence research and development and increasing defence reforms as some of the key initiatives of the government in the defence sector in 2020.

"Policy reforms for increased transparency included the launch of new Defence Acquisition Procedure in September 2020 and revision of DRDO Procurement Manual in October 2020," the ministry said. PTI MPB RC


Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI

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