SOURCE: AFI
Munitions India Limited (MIL), a leading Indian defense manufacturer, has secured a remarkable achievement in the export market. For the financial year 2023-24, MIL successfully exported ammunition and explosives valued at a staggering INR 1,726 Crore (approximately USD 210 million).
This accomplishment signifies a significant milestone for MIL, showcasing their growing capabilities in ammunition and explosives production. It reflects not only the company’s commitment to fulfilling domestic requirements but also its increasing focus on international markets.
This achievement contributes to India’s overall defense export ambitions, aiming to position the country as a reliable supplier in the international market. The substantial export value translates to a significant inflow of foreign exchange, which can be reinvested into further development and modernization of India’s defense capabilities.