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India's defense exports have reached an all-time high of Rs 13,399 crore in the ongoing 2022-2023 financial year. India is now exporting to more than 80 countries worldwide. This is a significant increase from eight years ago in 2015-16 when India's defense exports were at Rs 2059.18 crore. India is in the initial stages of creating a defense ecosystem, and the government aims to encourage indigenisation. Despite India's heavy curtailment of defense imports, it was the world's largest arms importer between 2018 and 2022, accounting for 11% of global imports. Close to 70% of India's defense exports are being made by the private sector, with the public sector now coming up and negotiating big-ticket deals for Brahmos to fighter jets and helicopters. The government had set an ambitious target of Rs 35,000 crore ($5 billion) export in aerospace and defense goods and services for the next five years. The majority of defense equipment exported in the past five years includes weapon simulators, tear-gas launchers, torpedo-loading mechanisms, alarm monitoring and control, night vision monocular and binocular, light-weight torpedo and fire control systems, armored protection vehicle, weapons locating radar, HF Radio, coastal surveillance radar, among others.
