"India has recently achieved a remarkable feat in the highly competitive global defence market by exporting military hardware worth a whopping ₹15,920 crore in the financial year 2022-23. This is a tenfold increase since 2016-17 and the highest ever recorded. Prime Minister Narendra Modi has attributed this surge to the enthusiasm for Make in India and key reforms to spur growth in the sector.
Union defence minister Rajnath Singh has lauded the achievement as a remarkable one for the country, adding that the exports would continue to grow exponentially. This surge in defence exports is a clear indication that the reforms in this sector over the last few years are delivering good results. In fact, the government plans to keep supporting efforts to make India a defence production hub.
India is currently exporting military hardware, including missiles, advanced light helicopters (ALH), offshore patrol vessels, personal protective gear, surveillance systems, and a variety of radars to around 85 countries. With a good strategy and action plan in place, India is set to boost its status as a net exporter of weapons in the coming years.
The focus on boosting exports comes alongside a big thrust on the indigenisation of weapons and systems. In categories where imports have been almost replaced by domestic products, India is making progress, including warships, artillery guns, LCA, basic trainer aircraft, a variety of helicopters, radars, and different types of ammunition.
The defence ministry has also signed contracts worth almost ₹52,000 crore for locally made military hardware, including basic trainer aircraft, a satellite for the army, training ships, medium-power radars, radar warning receivers, air defence systems, and Dornier aircraft.
In conclusion, India's remarkable achievement in the defence export sector is a clear indication of its potential to make its mark in the global market. With a focus on indigenisation and boosting exports, the country is set to become a force to be reckoned with in the global defence industry.
