India’s defence exports reach all-time high of nearly Rs 16,000 crore in 2022-23

Making its presence felt in the highly competitive global market, India’s defence exports reached Rs 15,920 crore in the financial year 2022-23.

India exported defence hardware worth Rs 15,920 crore in the financial year 2022-23. (File photo/PTI)

By Manjeet Negi: India’s defence exports reached an all-time high of Rs 15,920 crore in the financial year 2022-23, over a 10-times increase since 2016-17. The country is now exporting to over 85 countries.

Indian industry has shown its capability of design and development to the world, with 100 firms exporting defence products currently. The rising defence exports and participation of 104 countries in Aero India 2023 are proof of India’s growing defence manufacturing capabilities.

In a tweet, Prime Minister Narendra Modi described the achievement as a clear manifestation of India’s talent and enthusiasm towards ‘Make in India’.

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“It also shows the reforms in this sector over the last few years are delivering good results. Our Government will keep supporting efforts to make India a defence production hub,” he said.

Today, India, which was known as an importer about eight years back, exports major platforms like Dornier-228, 155 mm Advanced Towed Artillery Guns (ATAGs), BrahMos missiles, Akash Missile System, radars, simulators, mine-protected vehicles, armoured vehicles, PINAKA rockets and launchers, ammunition, thermal imagers, body armours, besides systems, line replaceable units and parts and components of avionics and small arms. There is growing global demand of LCA-Tejas, light combat helicopters, aircraft carriers and MRO activities, etc.

To give a push to defence exports, the central government has taken a number of policy initiatives and brought reforms over the last 5-6 years. Export procedures have been simplified and made industry-friendly with end-to-end online export authorisation curtailing delays and bringing an ease of doing business.

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The government has notified three Open General Export Licences (OGEL) for the export of parts and components/transfer of technology/major platforms and equipment. The OGEL is a one-time export licence, which permits the industry to export specified items to specified destinations, enumerated in the OGEL, without seeking export authorisation during the validity of the OGEL.

Export leads received from various countries are disseminated to the registered Indian Defence Exporters through an online portal on a real-time basis to enable them to respond to export opportunities. Regular reviews are held by Indian Missions abroad to promote Indian defence products and facilitate Indian industries.

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