Defence Exports Of India Up By 23 Times Since 2014

Defence Exports Of India Up By 23 Times Since 2014

Defence exports of India up by 23 times since 2014

India's defence exports have reached a new high, rising from 686 billion rupees in 2013-14 to roughly 16 billion rupees in 2022-23. This impressive growth of 23 times demonstrates India’s advancement in the global defense manufacturing industry.

Defence exports of India up by 23 times since 2014: Key Points

• With exports to more than 85 nations, India's defence sector has shown to the international community its ability to design and build high-quality goods.

• Currently, 100 companies are engaged in exporting defense goods.

• The government has implemented several policy initiatives and reforms in the past nine years to bolster defense exports.

• The Atmanirbhar Bharat initiatives have greatly benefitted India by promoting indigenous design, development, and manufacturing of defense equipment within the country.

• This strategy aims to reduce dependence on imports in the long run.

• As a result, the expenditure on defense procurement from foreign sources has decreased from 46 percent of the overall expenditure in 2018-19 to over 36 percent as of December last year.

• In the past, India was mainly recognized for importing defense equipment.

• However, things have changed, and India today exports a variety of key military equipment, including the Dornier-228 aircraft, artillery guns, Brahmos Missiles, PINAKA rockets and launchers, radars, simulators, and armoured vehicles.

Additionally, there is an increasing global demand for India’s own products, including the LCA-Tejas, Light Combat Helicopters, Aircraft Carriers, and MRO (Maintenance, Repair, and Overhaul) activities.

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