Defence exports of India up by 23 times since 2014

India’s defense exports have achieved a record-breaking milestone, skyrocketing from 686 crore rupees in 2013-14 to nearly 16 thousand crore rupees in 2022-23. This impressive growth of 23 times demonstrates India’s advancement in the global defense manufacturing industry.

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

With exports reaching more than 85 countries, India’s defense sector has demonstrated its ability to design and develop high-quality products to the international community.
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, the situation has changed, and now India exports various significant military assets such as the Dornier-228 aircraft, artillery guns, Brahmos Missiles, PINAKA rockets and launchers, radars, simulators, and armored 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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