News:

• According to the Ministry of Defence, India’s defence exports crossed ₹21,000 crore, approximately $2.63 billion. 
• The recent figures indicated that the defence exports have grown by 31 times in the past 10 years as compared to FY 2013-14.
• 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).
• There was a rise in the number of export authorisations issued to the defence exporters during FY 2023-24, this increased from 1,414 in FY 2022-23 to 1,507 in FY 2023-24.
• A comparative data of two decades i.e. the period from 2004-05 to 2013-14 and 2014-15 to 2023-24 reveals that there has been a growth of 21 times in the defence exports.