New Delhi. India’s defence exports have reached an unprecedented peak, skyrocketing from Rs. 686 Crore in FY 2013-14 to an estimated Rs. 16,000 Crore in FY 2022-23, representing a remarkable twenty-three-fold increase.
It shows India’s significant progress in the global defence manufacturing industry. India’s defence industry has demonstrated its prowess in design and development by exporting to more than 85 countries, with a staggering 100 firms currently engaged in defence product exports.
Over the past nine years, the government has implemented numerous policy initiatives and introduced reforms to stimulate defence exports. Notably, the expenditure on defence procurement from foreign sources has reduced from 46 per cent of the overall expenditure in 2018-19 to 36.7 per cent as of December 2022, reflecting a strategic shift towards self-reliance and indigenous manufacturing capabilities.
This paradigm shift in India’s defence landscape has transformed the country from primarily being an importer of defence equipment to emerging as an exporter of significant platforms. Notable examples include the indigenous production of aircraft such as the Dornier-228, artillery guns, Brahmos Missiles, PINAKA rockets and launchers, radars, simulators, and armoured vehicles. India’s successful foray into the global defence market showcases its expertise and potential to meet the diverse needs of nations worldwide.
Furthermore, India’s reliance on foreign nations for military procurement, particularly Russia, has been a defining characteristic for the past decade. However, the recent surge in defence exports signals a determined effort to reduce this dependency.
With the achievement of surpassing 1 trillion rupees ($12 billion) in defence production in FY23, marking a year-on-year growth of over 12 per cent, India has demonstrated a remarkable milestone in its endeavour to become self-reliant in defence manufacturing.
