India’s defence exports crossed ₹21,000 crore, approximately $2.63 billion, for the first time, Defence Minister Rajnath Singh announced on April 1. The recent figures indicated that the defence exports have grown by 31 times in the past 10 years as compared to FY 2013-14, the Ministry said.
However, India continued to be the world’s largest arms importer for the period 2019-23 with imports going up by 4.7% compared to the 2014-18 period, according to recent data by the Swedish think tank Stockholm International Peace Research Institute (SIPRI).
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