In NEW DELHI: With an increase from Rs. 686 Crore in FY 2013–14 to about Rs. 16,000 Crore in FY 2022–23, India's defence exports have achieved an all-time high. India has made strides in the world's defence manufacturing industry, as evidenced by this astounding 23-fold rise.
With 100 companies already selling defence products, India's defence sector has demonstrated its design and development capabilities to the world with exports to more than 85 countries.
Over the past nine years, the government has implemented a variety of policy initiatives and changes to encourage defence
exports. End-to-end online export authorisation has streamlined and improved export procedures industry-friendly, reducing delays and delivering Ease of Doing Business.
Additionally, the Atmanirbhar Bharat projects have benefited the nation by promoting domestic design, development, and production of defensive equipment, hence lowering long-term dependent on imports. Foreign-sourced spending on defence decreased from 46% of total spending in 2018–19 to 36.7% in December 2022 .
India, which used to be predominantly renowned for importing defensive equipment, now exports a variety of significant platforms, such as the Dornier-228 aircraft, artillery guns, Brahmos Missiles, PINAKA rockets & launchers, radars, simulators, armoured vehicles, etc. The LCA-Tejas, Light Combat Helicopters, Aircraft Carriers, and MRO activities are only a few examples of the indigenous items produced in India that are increasingly in demand around the world.
