Minister of State for Defence Ajay Bhatt
Credit: PTI Photo
Nagpur: India is becoming self-reliant in defence production, and for the first time, leading the top 25 countries in defence exports, Union minister Ajay Bhatt said on Sunday.
The Minister of State for Defence was speaking at the Advantage Vidarbha programme in Nagpur.
He said the government has issued four lists of 4,666 defence components whose import is banned, resulting in huge savings.
"India, for the first time, is leading a group of top 25 countries in defence export as it is becoming self-reliant in defence production.
"The defence exports rose from Rs 4,682 crore in 2017-18 to Rs 15,916 crore in 2022-23. (Defence) export till December 2023 is about Rs 9,428 crore," the Union minister added.
Bhatt said almost all defence PSUs are in profit after the ordnance factories were decentralised.
He said the defence ministry is promoting innovation and technology.