"Excellent! A clear manifestation of India's talent and the enthusiasm towards 'Make in India.' It also shows the reforms in this sector over the last few years are delivering good results. Our government will keep supporting efforts to make India a defence production hub," Modi tweeted.
Defence minister Rajnath Singh said that defence exports hitting an all-time high was "a remarkable achievement" for the country, and they would continue to grow exponentially.
The country's defence exports were a mere ₹1,521 crore in 2016-17, but there was a marked improvement in performance in the following years on the back of government policies to boost exports. To be sure, the exports slipped during 2019-21 before climbing back to healthier levels.
The exports stood at ₹4,682 crore in 2017-18, ₹10,745 crore in 2018-19, ₹9,115 crore in 2019-20, ₹8,434 crore in 2020-21, and ₹12,814 crore in 2021-22, according to government data.
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