India’s Defence Exports reach all-time high of Rs 16,000 Crore in FY 2022-23
New Delhi: India’s defence exports reached an all-time high of around Rs 16,000 crore in the just concluded financial year 2022-23, the defence ministry said on Saturday. This was about Rs 3,000 crore more than last year.
Defence exports have achieved a 10-fold rise since 2016-17, the ministry said. India is now exporting weapons systems and equipment to over 85 countries. It said Indian industry had shown its design and development capacity to the world, with 100 firms exporting defence products.
“The rising defence exports and participation of 104 countries in Aero India 2023 are proof of India’s growing defence manufacturing capabilities,” the defence ministry in a statement.
In a tweet, Prime Minister Narendra Modi described the achievement as a clear manifestation of India’s talent and the enthusiasm towards ‘Make in India’. “It also shows the reforms in this sector over the last few years are delivering good results. Our Government will keep supporting efforts to make India a defence production hub,” he said.
Defence minister Rajnath Singh termed record defence exports as a remarkable achievement of the country.
“Today, India, which was known as an importer about eight years back, exports major platforms like Dornier-228, 155 mm Advanced Towed Artillery Guns (ATAGs), Brahmos missiles, Akash missile system, radars, simulators, mine protected vehicles, armoured vehicles, Pinaka rockets and launchers, ammunition, thermal imagers, body armour, besides systems, line replaceable units and parts and components of avionics and small arms,” the ministry said. There is growing global demand for Tejas, the light combat aircraft, the light combat helicopters, and aircraft carriers, it added.
It said the government had simplified export procedures and made them industry friendly with end-to-end online export authorisation.
