PM Modi said that in the last five years, India’s defence exports had increased by 315%.

According to the details provided by Bhatt, India's defence exports in 2014-15 was ₹1,940.64 crore and it increased to ₹2,059.18 crore in 2015-16. The value of exports in 2016-17 was recorded at ₹1,521.91 crore while it went up to ₹ ₹4,682.36 crore in 2017-18 and ₹10,7465.77 crore in 2018-19.

The value of defence exports was ₹9,115.55 crore in 2019-20 and ₹8434.84 crore in 2020-21, as per the details.

1. Prime Minister Narendra Modi said that 41 Ordnance factories will be converted into 7 government-run corporate entities, in a big move to improve India's self-reliance and defence preparedness.

2. PM Modi said: "Under the self-reliant India campaign, the country's goal is to make the nation the world's biggest military power on its own and develop a modern military industry here."

3. PM Modi said orders worth Rs 65,000 crore had already been placed for the new companies. These companies will supply arms and ammunition, vehicles, and advanced technology for India to become a global brand.

4. The seven new defence companies that have been incorporated are Munitions India Limited (MIL), Armoured Vehicles Nigam Limited (AVANI), Advanced Weapons and Equipment India Limited (AWE India), Troop Comforts Limited (TCL), Yantra India Limited (YIL), India Optel Limited (IOL) and Gliders India Limited (GIL), the PM's Office said.