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Defence exports will touch 24,000cr in FY24, says Sitharaman

IndiaTimes Friday, 29 December 2023
India's defence exports will reach Rs 24,000 crore by FY24, with current exports at Rs 20,000 crore. Defence forces are signing MoUs with MSMEs for 10-year procurement if standards are met. Bilateral trade includes oil purchases from Russia and talks for Rupee trade with Russia and Sri Lanka. AI will generate domain specific jobs requiring different skill sets, such as optimal fuel usage and smart city waste management. The finance minister challenges fears of job loss, citing the introduction of computers in banking in the 1980s resulting in employment generation.
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