Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

India’s Defence Exports Cross US $ 2.51 Bln Mark

Wed 03 Apr 2024 | 01:44 PM
File photo
File photo
Nada Mustafa

India’s defence exports grew 32.5% this fiscal and crossed the US $ 2.51 billion (INR 210 billion) mark for the first time as the country remains focussed on boosting the indigenous defence manufacturing ecosystem as well as exports.

The recent figures indicate that the defence exports have grown 31 times in the last 10 years as compared to FY 2013-14. The private sector and the defence public sector undertakings (DPSUs) contributed around 60% and 40%, respectively. The number of export authorisations rose from 1,414 in FY 2022-23 to 1,507 in FY 2023-24.

India has set a defence export target of US $ 4.18 billion [INR 350 billion] by 2024-25. The country is currently exporting military hardware to around 85 countries, with around 100 firms involved in the exports. It includes missiles, artillery guns, rockets, armoured vehicles, offshore patrol vessels, personal protective gear, a variety of radars, surveillance systems and ammunition.

India produces different types of weapons systems including the Tejas light combat aircraft (LCA), different types of helicopters, warships, tanks, artillery guns, warships, missiles, rockets, a variety of military vehicles and ammunition.