India's Defence Exports Cross $1.5 Bn, A Boost As In Indigenous Items Demand
Earlier on 13, March, the Minister of State for Defence also underlined the government’s focus on the indigenisation of various defence items to achieve self-reliance in the country, ‘Aatmanirbharta’
In an attempt to boost India's ambitious goal of accelerating defence equipment production indigenously, the defence export in the country has crossed Rs 13000 crores (USD 1.5 billion).
Earlier on 13 March, the Minister of State for Defence also underlined the government’s focus on the indigenisation of various defence items to achieve self-reliance in the country, ‘Aatmanirbharta’.
According to official data, the total defence export value stands at Rs 13,399 crores as of 6 March 2023. And previously in the financial year 2021-22, the data stood at Rs. 12,815 crores while for FY 2020-21, it was Rs 8,435 crores.
Meanwhile, the nation presently exports defence supplies to over 80 countries, according to the government’s release.
It added, Torpedo Loading Mechanism, Weapon Simulators, Tear Gas, Night Vision Monocular and Binoculars, Launcher, Alarm Monitoring and Control, Light Weight Torpedo and Fire Control Systems, Armoured Protection Vehicles, Weapons Locating Radar, HF Radio and Coastal Surveillance Radar etc as some of the major equipment exported during the last 5 years.
The report further suggests various steps taken by the government that improved the defence products making them competitive globally. The push for Made-in-India equipment is a priority for the centre as it helps in strengthening and promoting the nation's self-reliance ability in the defence sector.
The indigenised equipment made from locally available resources becomes globally cost-competitive facilitating the integration of the Ministry of Micro, Small and Medium Enterprises (MSMEs) in the global supply chain.
The government also started of reducing its dependency on defence imports.
"The expenditure on defence procurement from foreign sources has reduced from 46 per cent of overall expenditure in 2018-19 to 36.7 per cent as on December 2022," it said.
Meanwhile on a path to achieve its ambitious target of USD 5 billion in annual defence export by 2024-25, India is currently in talks of exporting several of its indigenous supplies such as Light Combat Aircraft Tejas and the BrahMos supersonic cruise missiles to many countries.