Military exports grew 23 times in 9 yrs, says govt

The defence report card came at a time when the central government is showcasing its achievements in different areas on its ninth anniversary.

Military exports have risen sharply and imports have declined on the back of policy initiatives and reforms during the past nine years, the Union government said on Tuesday.

India had on May 19 announced that the value of defence production in the country crossed ₹1 lakh crore for the first time.

Exports grew 23 times between 2013-14 and 2022-23 financial years while the spending on sourcing weapons and systems from foreign countries dropped from 46% of the total expenditure in 2018-19 to 36.7% in December 2022, it said in a statement. The defence report card came at a time when the central government is showcasing its achievements in different areas on its ninth anniversary.

“India’s defence exports have reached an all-time high, surging from ₹686 crore in FY 2013-14 to nearly ₹16,000 crore in FY 2022-23. This remarkable 23-fold increase reflects India’s progress in the global defence manufacturing sector,” the statement said.

India had on May 19 announced that the value of defence production in the country crossed ₹1 lakh crore for the first time on the back of key reforms to spur growth in the sector. The figure stood at ₹1,06,800 crore in 2022-23 compared to ₹95,000 crore in 2021-22 and ₹54,951 crore five years ago.

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

The country has sharpened its focus on defence manufacturing in the past five years and taken several measures to achieve self-reliance. These include banning the import of a range of weapons, systems and parts, creating a separate budget for buying locally made military hardware, increasing foreign direct investment from 49% to 74% in defence production and improving ease of doing business.

India is eyeing a turnover of ₹1,75,000 lakh crore in defence manufacturing by 2024-25.

The country’s focus is not only on cutting dependence on imports, but also on boosting exports.

India is exporting military hardware to around 85 countries, with around 100 firms involved in outbound shipments. It includes missiles, artillery guns, rockets, armoured vehicles, offshore patrol vessels, personal protective gear, a variety of radars, surveillance systems and ammunition.

India has set a defence export target of ₹35,000 crore by 2024-25.

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