President Murmu also mentioned India's G20 presidency this year

New Delhi: President Droupadi Murmu today lauded India's indigenous defence manufacturing and said that the country's defence exports have increased manifold due to the initiatives of the government.

"As a result of new initiatives by my government, our defence exports have increased six times. I am proud that today the first indigenous aircraft carrier in the form of INS Vikrant has also joined our Navy," President Murmu, who is also the supreme commander of the armed forces, said in her opening remarks of Parliament's Budget session.

President Murmu in her maiden address to the joint sitting of the Parliament also noted that India's firm and tough stand against terrorism is the reason why the country is being heard seriously by the world on the issue of terrorism.

President Murmu also mentioned India's G20 presidency this year and said that the country aims to find solutions to world problems.

"India holds the presidency of the G20 this year. Along with all member states of G20, India aims to find solutions to world problems," she said.

Referring to India's thrust on innovation and entrepreneurship, the President lauded the youth for taking India's innovation to the world.

"My government has continuously laid unprecedented emphasis on innovation and entrepreneurship. Today our youth are showing the power of their innovation to the world," she said.

"On the one hand, we are developing our pilgrimage centres and historic heritage, while on the other hand, India is becoming a major space power in the world. India has launched the first private satellite too," the President added.

President Murmu also mentioned India's role in the world of pharmacy and said that the country is enhancing its identity as "pharmacy of the world."

"Today, on one hand, India is taking its ancient knowledge of Yoga and Ayurveda to the world. On the other hand, it is enhancing its new identity as 'pharmacy of the world'," she said.

President had this morning arrived in a ceremonial escort to Parliament to address the joint session at the start of the Budget session. This is President Murmu's first Budget session speech since assuming office.

Earlier addressing reporters outside Parliament Prime Minister Narendra Modi said, "Our Finance Minister will present one more Budget before the country tomorrow. In today's global circumstances, not only India but the entire world is looking at India's budget. Amid the unstable global economic situation, India's Budget will attempt to meet the hopes and aspirations of the common citizens. I firmly believe that Nirmala Sitharaman will make all efforts to meet those aspirations."

The budget session that began today with the President's address will take place in 27 sittings till April 6 with a month-long recess to examine the budget papers.

The first part of the session will conclude on February 13. Parliament will reconvene on March 12 for the second part of the Budget Session and will conclude on April 6.