{"id":289040,"date":"2024-04-02T17:51:44","date_gmt":"2024-04-02T12:21:44","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=289040"},"modified":"2024-04-02T17:51:44","modified_gmt":"2024-04-02T12:21:44","slug":"record-defence-exports-rs-21083-cr-in-fy-2023-24","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/record-defence-exports-rs-21083-cr-in-fy-2023-24\/","title":{"rendered":"Record Defence Exports: Rs 21,083 Cr in FY 2023-24"},"content":{"rendered":"

Source<\/strong>-This post on Record Defence Exports: Rs 21,083 Cr in FY 2023-24<\/strong> is based on the article “Defence exports touch record Rs 21,083 crore in FY 2023-24, an increase of 32.5% over last fiscal<\/strong><\/a>” published in “PIB<\/strong>” on 1st April 2024.<\/p>\n

Why in the News?<\/h2>\n
\"Record
Source- Indian Economy<\/figcaption><\/figure>\n

Defence exports hit a record high of Rs 21,083 crore (approximately US$ 2.63 Billion) in FY 2023-24, marking a 32.5% increase from the previous fiscal year’s Rs 15,920 crore.<\/p>\n

These recent numbers show a 31-times growth in defence exports in the last 10 years compared to FY 2013-14<\/span>.<\/p>\n

What do the recent figures of defence exports state?<\/h2>\n

1. Private sector and DPSU contribution<\/strong>– Approximately 60% of these exports come from the private sector<\/span>, while Defence Public Sector Undertakings (DPSUs) contribute around 40%<\/span>.<\/p>\n

2. Significant rise in defence exports from 2014-15 to 2023-24-<\/strong> \u00a0During 2004-05 to 2013-14, total defense exports amounted to Rs 4,312 crore<\/span>. However, this figure surged to Rs 88,319 crore from 2014-15 to 2023-24<\/span>, marking a remarkable 21-times increase<\/span>.<\/p>\n

3. Future projection<\/strong>– India is projected to reach an annual defense production of Rs 3 trillion by 2028-29, with exports of military hardware potentially hitting Rs 50,000 crore.<\/p>\n

UPSC Syllabus- Indian Economy<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Source-This post on Record Defence Exports: Rs 21,083 Cr in FY 2023-24 is based on the article “Defence exports touch record Rs 21,083 crore in FY 2023-24, an increase of 32.5% over last fiscal” published in “PIB” on 1st April 2024. Why in the News? Defence exports hit a record high of Rs 21,083 crore… Continue reading Record Defence Exports: Rs 21,083 Cr in FY 2023-24<\/span><\/a><\/p>\n","protected":false},"author":10367,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127],"tags":[11872,3590],"class_list":["post-289040","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","tag-9pm-daily-factly","tag-pib","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/289040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10367"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=289040"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/289040\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=289040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=289040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=289040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}