Indian defence equipment exports reach Rs 16,000 crore this year - Broadsword by Ajai Shukla

From Rs 1,521 crore in 2016-17, India’s defense exports have increased tenfold to reach Rs 16,000 crore this year

By Vikas Gupta

Defence News of India, 2 Apr 23

India’s defense equipment exports hit a record high of Rs 16,000 crore in the financial year 2022-23, the Ministry of Defense (MoD) said on Saturday.

This represents a tenfold increase since 2016-2017, when exports stood at Rs 1,521 crore. While India remains the largest defense importer in the world, its defense and aerospace industry now exports defense products to over 85 countries.

This is a significant step towards the Ministry of Defense’s stated target of exporting Rs 25,000 crore worth of defense and aerospace equipment annually by 2025.

“Indian industry has shown its design and development capability to the world, with 100 companies currently exporting defense products. The increase in defense exports and the participation of 104 countries in Aero India 2023 are proof of the growing capabilities India’s defense manufacturing facility,” a statement from the Ministry of Defense said today.

“Today, India, which was known as an importer about eight years ago, exports major platforms such as Dornier-228, 155mm Advanced Towed Artillery Guns (ATAG), BrahMos missiles , Akash missile systems, radars, simulators, mine protected vehicles, armored vehicles, Pinaka rockets and launchers, ammunition, thermal imagers, body armor, in addition to systems, replaceable units in line and parts and components of avionics and small arms.There is a growing worldwide demand for LCA-Tejas, light combat helicopters, aircraft carriers, MRO (maintenance, repair and overhaul) activities, etc,” the Defense Ministry said.

To boost defense exports, the government has taken a number of policy initiatives and introduced reforms over the past 5-6 years. These include the simplification of export procedures, which have been made industry-friendly. Delays have been reduced through ease of doing business measures, such as end-to-end online export authorization.

In addition, the government notified three Open General Export Licenses (OGELs) for the export of parts and components, transfer of technology (ToT), and for major platforms and equipment.

The OGEL is a one-time export license, which allows industry to export specified items to specified destinations listed in the OGEL without requesting an export permit during the validity period of the OGEL. OGEL.

In addition, export leads received from various countries have been disseminated through an online portal, in real time, to registered Indian defense exporters to enable them to respond to export opportunities. Regular reviews are held with Indian missions abroad to promote Indian defense products. More than 40 webinars have been organized with friendly foreign countries (FFC) with the participation of professional associations.

Prime Minister Narendra Modi described the achievement as a clear manifestation of India’s talent and enthusiasm for ‘Make in India’. He said the government would continue to support efforts to make India a global defense production hub.

Defense exports: upward trend

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(Source: Ministry of Defence)