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On April 2, the Indian Ministry of Defense issued a statement saying that the country's defense exports have reached a historic high of about 160 billion rupees (1.94 billion USD) - in the 2022-2023 fiscal year. This export level increased by about 365 million USD compared to the previous fiscal year and increased more than 10 times compared to the 2016-2017 fiscal year.
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| An Indian missile is displayed at the Republic Day parade in New Delhi on January 20, 2020. Photo: ANI/VNA |
Prime Minister Narendra Modi said this is a demonstration of the nation's potential and a result of reforms undertaken by the government.
“Wonderful! A clear demonstration of India’s capabilities and enthusiasm for the ‘Make in India’ initiative. It also shows that the reforms in the defence sector over the past few years are bearing fruit,” Prime Minister Modi wrote on Twitter.
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