New Delhi, Apr 1 (PTI) India's defence exports reached an all-time high of Rs 15,920 crore in the financial year 2022-2023, Defence Minister Rajnath Singh said on Saturday describing the rise as a remarkable achievement.

The country's defence exports in 2021-22 was Rs 12,814 crore, according to official data.

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"India's defence exports have reached an all-time high of Rs 15,920 crore in FY 2022-2023. It is a remarkable achievement for the country," Singh said on Twitter.

"Under the inspiring leadership of PM Shri @narendramodi, our defence exports will continue to grow exponentially," he said.

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India exported military hardware worth Rs 8,434 crore in 2020-21, Rs 9,115 crore in 2019-20, and Rs 10,745 crore in 2018-19, according to details provided by Singh.

The amount in 2017-18 was Rs 4,682 crore and Rs 1,521 crore in 2016-17.

The government has set the target of manufacturing defence hardware worth Rs 1,75,000 crore and take defence exports to Rs 35,000 crore by 2024-25.

In the last few years, the government has taken a series of measures to promote domestic defence production.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)