New Delhi, July 14: India's defence exports have experienced a remarkable 30-fold increase over the past decade, soaring from Rs 686 crore in the financial year 2013-14 to an impressive Rs 21,083 crore in FY 2023-24. This surge underscores the growing global recognition of Indian defence products and technologies.
According to a senior official, India's defence industry has demonstrated its prowess in design and development, exporting to over 85 countries across Southeast Asia, the Middle East, Africa, and Latin America. Presently, around 100 firms are actively engaged in exporting defence products.
The Government's strategic initiatives, including 'Make in India' and comprehensive economic reforms introduced over the last decade, have played a pivotal role in boosting defence exports. Simplified and industry-friendly export procedures, facilitated by end-to-end online export authorization, have significantly reduced delays and enhanced the Ease of Doing Business.
The Atmanirbhar Bharat initiatives have further bolstered India's defence capabilities by promoting indigenous design, development, and manufacturing of defence equipment, thereby reducing dependency on imports in the long term. Notably, the private sector has emerged as a crucial contributor, with companies like Larsen & Toubro, Tata Advanced Systems, and Bharat Forge establishing themselves as major players.
In the financial year 2023-24, Defence Public Sector Undertakings (DPSUs) and other Public Sector Undertakings (PSUs) accounted for 79.2% of the total production value, while the private sector contributed 20.8%. Both sectors have demonstrated steady growth in defence production, underscoring their integral role in India's defence manufacturing landscape.
India's export portfolio of defence products encompasses a wide range of advanced technologies including missiles, radars, naval systems, helicopters, and surveillance equipment. The country has also made significant strides in indigenous production of advanced naval systems, exemplified by platforms like the INS Vikrant aircraft carrier.
Highlighting India's prowess in missile technology, the export of BrahMos supersonic cruise missiles, developed jointly with Russia, stands as a notable achievement. Recent purchases by countries such as the Philippines underscore the international demand for India's defence capabilities.
Overall, India's robust defence exports growth reflects its commitment to enhancing self-reliance in defence production while establishing a formidable presence in the global defence market.
