With the Government giving a push to self-reliance in defence sector, India’s defence exports jumped 23 times and have reached an all-time high, surging from Rs. 686 crore in Financial Year(FN) 2013- 14 to nearly Rs 16,000 crore in FY 2022-23. Giving these details here, a Government statement said on Tuesday this remarkable 23-fold increase reflects India’s progress in the global defence manufacturing sector. With exports reaching more than 85 countries, India’s defence industry has shown its capability of design and development to the world, with 100 firms exporting defence products at present.
To give a push to defence exports, the Government has taken a number of policy initiatives and brought reforms over the last 9 years. Export procedures have been simplified and made industry-friendly with end-to-end online export authorisation curtailing delays and bringing ease of doing business.
The Atmanirbhar Bharat initiatives have helped the country by encouraging indigenous design, development and manufacture of defence equipment in the country, thereby reducing dependency on imports in the long run.
The expenditure on defence procurement from foreign sources has reduced from 46 per cent of overall expenditure in 2018-19 to 36.7 per cent in December.
India, once known primarily as a defence equipment importer, now exports a wide range of major platforms, including aircraft like the Dornier-228, artillery guns, Brahmos Missiles, Pinaka rockets and launchers, radars, simulators and armoured vehicles besides others.
The global demand for India's indigenous products, such as the LCA-Tejas, Light Combat Helicopters and Aircraft Carriers is also on the rise, the statement said.
Egypt and Argentina have evinced interest in procuring 20 and 15 Tejas jets respectively. Moreover, India may export Advanced Light Helicopters to the Philippines. Last year, BrahMos Aerospace and the Philippines signed a deal worth almost $375 million for the Philippine Marines to buy three batteries of the BrahMos supersonic cruise missile, and Kalyani Strategic Systems Limited won an export order worth $155.5 million for supplying 155mm artillery guns, the first such order for an Indian firm.
In 2020, the Union cabinet gave its go-ahead to the export of Akash missile systems and also created a high-powered panel for swifter export approvals.
India has earmarked 75 per cent of this year’s defence capital procurement budget for locally made weapons and systems, a move aimed at unlocking new opportunities for achieving self-reliance targets and ramping up the country’s defence exports.
