FM Nirmala Sitharaman: India Is Now Among Top 25 Arms Exporters Globally

India has achieved a historic milestone by entering the ranks of the world’s top 25 arms exporters, a significant transformation for a nation that was the second-largest arms importer between 2015 and 2019. Union Finance Minister Nirmala Sitharaman announced this achievement during the 4th Convocation Ceremony of Rashtriya Raksha University in Gandhinagar, Gujarat. She credited strategic policy support and investments under Prime Minister Narendra Modi's administration for this remarkable progress. India’s defense exports have reached an all-time high of ₹21,083 crore in the 2023-24 financial year, marking a 30-fold increase from ₹686 crore in 2013-14. Indigenous defense production has also soared, with a record-breaking production value of ₹1.27 lakh crore for 2023-24—a 2.7-fold increase since 2014-15. Over 100 Indian companies now export defense products, including the globally acclaimed BrahMos missiles, Pinaka rocket systems, and Dornier aircraft. Sitharaman highlighted this growth as a testament to India's transformation from an importer to an exporter in the global defense industry.