NEW DELHI: The country’s defence exports are picking up steadily, having increased by 12% from 2023-24, or more than Rs 2,500 crore.
Defence Minister Rajnath Singh said in a post on X on Monday, “India’s defence sector is growing stronger than ever, driven by the spirit of Atmanirbhar Bharat (self-reliance). Defence exports have jumped from Rs 686 crore in 2013-14 to Rs 23,622 crore in 2024-25, a 34-fold rise.”
In April 2024, the Ministry of Defence had said, “Defence exports have touched a record Rs 21,083 crore (approx. $2.63 billion) in FY 2023-24, a growth of 32.5% over the last fiscal’s Rs 15,920 crore.”
This newspaper earlier reported that India’s rising production of defence equipment and systems was changing its narrative as the world’s second-largest arms importer. The Economic Survey 2024 highlighted that India’s defence production grew substantially from Rs 74,054 crore in FY2017 to Rs 108,684 crore in FY23, boosting defence exports.
Between 2015 and 2019, India was known as the world’s second-largest arms importer. However, the picture has since changed, as the Economic Survey pointed out that “India has transitioned from being an arms importer to securing a place in the list of the top 25 arms-exporting nations.”
The survey credits the defence industry’s efforts, including those of the private sector and Defence Public Sector Undertakings (DPSUs), for achieving the highest-ever defence exports figure. Additionally, the number of export authorisations issued to defence exporters has risen.
“In FY2023, there were 1,414 export authorisations, which increased to 1,507 in FY2024. About 100 domestic companies are exporting a wide range of defence products and equipment, including aircraft like Dornier-228, artillery guns, BrahMos Missiles, Pinaka rockets and launchers, radars, simulators, and armoured vehicles,” the survey reported.
The government has implemented several policy initiatives over the past decade to boost defence exports.
Export procedures have been simplified and made industry-friendly, with end-to-end online export authorisation reducing delays and facilitating ease of business. Further, the Aatmanirbhar Bharat initiatives have encouraged indigenous design, development, and manufacture of defence equipment, thereby reducing dependency on imports in the long run.
The policy push towards indigenisation includes lists of items that will cease to be imported in a staggered timeline. Additionally, the government is allocating funds to support private manufacturers in the defence sector.
However, despite the push for self-reliance, India remains a top arms importer, indicating its dependence on imported arms and equipment.
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