Express News Service
NEW DELHI: India’s exports of arms and equipment have touched a new high with an increase of more than Rs 3,000 crore in the last financial year.
Defence Minister Rajnath Singh on Saturday tweeted, “India’s defence exports have reached an all-time high of Rs 15,920 crore in FY 2022-2023. It is a remarkable achievement for the country.”
Defence exports have risen by over 10 times since 2016-17. India’s defence exports in the FY 2021-22 were Rs 12,814 crore. The figures for exports in FY 2017-18 were Rs 4,682 crore and it rose to Rs 10,745 crore in 2018-19. Exports in the year 2019-20 and 2021-22 were Rs 9,115 crore and Rs 8,434 crore respectively.
Prime Minister Narendra Modi applauded the rise in defence exports. “Excellent! A clear manifestation of India’s talent and the enthusiasm towards ‘Make in India.’ 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,” Modi tweeted.
The Ministry of Defence in a statement said India 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 at present,” it said.
ALSO READ | India targeting defence exports worth Rs 40,000 crore by 2026, says Rajnath Singh
Enumerating the systems, equipment, missiles and ammunitions being exported, the MoD listed “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 & Launchers, Ammunitions, Thermal Imagers, Body Armours, besides Systems, Line Replaceable Units and Parts & components of Avionics and Small Arms. There is growing global demand of LCA-Tejas, Light Combat Helicopters, Aircraft Carrier, MRO activities etc.”
To give a push to defence exports, the MoD said, “The 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 Ease of Doing Business. The government has notified three Open General Export License (OGEL) for export of Parts and Components/Transfer of Technology/Major Platforms and Equipment.”
OGEL is a one-time export license, which permits the industry to export specified items to specified destinations, without seeking export authorisation during the validity of the OGEL.
The export figures are significant given India’s dependence on imported arms and equipment. A report released by Sweden-based Stockholm International Peace Research Institute (SIPRI) in March found that India was on top among the five largest arms importers during 2018–22, followed by Saudi Arabia, Qatar, Australia and China.
NEW DELHI: India’s exports of arms and equipment have touched a new high with an increase of more than Rs 3,000 crore in the last financial year.
Defence Minister Rajnath Singh on Saturday tweeted, “India’s defence exports have reached an all-time high of Rs 15,920 crore in FY 2022-2023. It is a remarkable achievement for the country.”
Defence exports have risen by over 10 times since 2016-17. India’s defence exports in the FY 2021-22 were Rs 12,814 crore. The figures for exports in FY 2017-18 were Rs 4,682 crore and it rose to Rs 10,745 crore in 2018-19. Exports in the year 2019-20 and 2021-22 were Rs 9,115 crore and Rs 8,434 crore respectively.googletag.cmd.push(function() {googletag.display(‘div-gpt-ad-8052921-2’); });
Prime Minister Narendra Modi applauded the rise in defence exports. “Excellent! A clear manifestation of India’s talent and the enthusiasm towards ‘Make in India.’ 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,” Modi tweeted.
The Ministry of Defence in a statement said India 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 at present,” it said.
ALSO READ | India targeting defence exports worth Rs 40,000 crore by 2026, says Rajnath Singh
Enumerating the systems, equipment, missiles and ammunitions being exported, the MoD listed “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 & Launchers, Ammunitions, Thermal Imagers, Body Armours, besides Systems, Line Replaceable Units and Parts & components of Avionics and Small Arms. There is growing global demand of LCA-Tejas, Light Combat Helicopters, Aircraft Carrier, MRO activities etc.”
To give a push to defence exports, the MoD said, “The 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 Ease of Doing Business. The government has notified three Open General Export License (OGEL) for export of Parts and Components/Transfer of Technology/Major Platforms and Equipment.”
OGEL is a one-time export license, which permits the industry to export specified items to specified destinations, without seeking export authorisation during the validity of the OGEL.
The export figures are significant given India’s dependence on imported arms and equipment. A report released by Sweden-based Stockholm International Peace Research Institute (SIPRI) in March found that India was on top among the five largest arms importers during 2018–22, followed by Saudi Arabia, Qatar, Australia and China.
