India makes Defence exports to 85 countries
As per the Ministry of Defence, in the Financial Year 2022-23, India exported defence equipment to 85 countries. This is a huge progress as the total value of defence exports stood just at Rs 1,521 crore in the financial year 2016-17 and that too to just a few countries.
India now is exporting a wide range of defence equipment which includes the Dornier-228 light transport aircraft, artillery guns, BrahMos Missiles, PINAKA rockets & launchers, radars, simulators and armoured vehicles and naval OPVs. There are also growing demands for India’s indigenous products, such as the LCA-Tejas, Light Combat Helicopters, Aircraft Carriers, and MRO activities, in the global markets.
Exports of defence materials, including equipment, is likely to be more than Rs 35000 crores by 2024-25, which will be twice of Rs 15,920 crore recorded in the financial year ended March 2023.
“Our target is to increase exports to Rs 35,000 crore in the next two years,” T Natarajan, Additional Secretary, Department of Defence Production, said on Tuesday at an event organised by the Confederation of Indian Industry (CII).
Natarajan said defence exports have surged by around 10 times in the past seven years due to enabling government policy.
It surged to Rs 4,682 crore in 2017-18 and surged further to Rs 10,745 crore in 2018-19. However, there was a downward trend in defence exports in the next two years.
Exports regained momentum again in 2021-22 rising to Rs 12,814 crore from Rs 8,434 crore recorded in 2020-21, the year which was severely impacted by Covid-19 pandemic. India’s defence exports hit a record high of Rs 15,920 crore in the financial year 2022-23.
Natarajan said the private sector, especially the micro, small and medium enterprises (MSMEs) are playing an increasingly important role in defence manufacturing and exports in the country.
“In the past, we have been highly dependent on imports of various defence equipment for various reasons. Maybe, our technological development was still not enough to take care of our requirements,” said Natarajan, adding India has now become an important player in defence exports.
