India has significantly increased its defense production in the last few years, gradually turning from an arms importer to an exporter. This is stated in the economic review prepared by the Ministry of Finance.
The document notes that India's defense output has grown significantly from 740 billion rupees ($8.8 billion) in fiscal 2017 to 1 trillion rupees (almost $12 billion) in 2023, leading to a surge in exports. "India moves from arms importer to top 25 arms exporter," the review said.
