A soldier salutes next to an Akash missile system during India's 73rd Republic Day parade at the Rajpath in New Delhi in Jan 6, 2022. (MONEY SHARMA / AFP)
NEW DELHI – India's defense exports had grown eight times in the past five years and will touch $5 billion in the coming years, said Prime Minister Narendra Modi while inaugurating the "DefExpo22" in Gandhinagar city of western state of Gujarat, on Wednesday.
"Till eight years ago India was recognised as the world's largest defence importer, but New India showed intent, showed willpower and Make in India is becoming a success story in the defense sector today," said the prime minister.
"We are exporting defence materials and equipment to more than 75 countries of the world. In 2021-22 defence exports from India reached $1.59 billion. And in the coming time, we have set a target to reach $5 billion," Modi said.
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