India's Defence Exports: India has experienced an extraordinary surge in its defence exports, reaching an all-time high.
Over the past nine years, the country's defence export record has soared by a remarkable 23-fold. In the fiscal year 2013-14, India's defence exports amounted to Rs. 686 crore, which has since escalated to nearly Rs.16,000 crore in 2022-23.
This statistical data reveals India's progressively expanding role in global defence material manufacturing. Currently, India is actively exporting defence materials to over 85 countries.
Over 100 companies from India are engaged in exporting their defence products worldwide.
These encompass a wide range of sophisticated equipment, such as advanced light helicopters, missiles, artillery guns, Pinaka rockets, as well as various weapons like launchers and Dorniers.
India is poised to export its Tejas fighter aircraft to Egypt and Argentina in the near future.
Presently, India engages in arms sales to numerous countries, including Sri Lanka, France, Russia, Maldives, Israel, Nepal, Saudi Arabia, and Poland.
The surge in defence exports can be attributed to the current policies implemented by the central government.
These policies prioritize the promotion of indigenous design and manufacturing in the defence sector within the country.
With the objective of attaining an annual defence export target of 35 thousand crores by the year 2025, the government has spearheaded a transformation.
This noteworthy shift has propelled India from being recognized as the world's largest arms buyer to now being ranked among the top 25 arms exporting nations globally.