defense exporthit ₹13,000 crore during fiscal year 2021-22.
- From 2017 to 2021, 50% of India’s defense exports went to Myanmar, followed by Sri Lanka at 25%.
- The Department of Defense is gearing up to launch 75 products in the fields of unmanned robotic systems, intelligent monitoring systems and more.
India’s efforts to become self-sufficient in the defense sector are showing positive signs. During the 2021-2022 fiscal year, Indian defense exports hit a record 13,000 crore, Defense Minister Ajay Kumar said. This is an increase of 54.1 percent compared to the 2020-21 financial year.
The private sector accounted for 70 percent of total exports, while public companies accounted for only 30 percent of exports. In addition, the Department of Defense said the US was the main buyer, after countries in Southeast Asia, Africa and West Asia.
Defense official said India exports
In January, India signed a $374.96 million deal with the Philippines for the supply of three batteries for the BrahMos cruise missile. This deal emerged as the largest defense export order for India.
Sources said the bulk of India’s defense exports are in the aerospace sector, where Indian companies make hulls for foreign companies. For example, all the fuselages of the American Apache helicopter sold worldwide are made in India and developed by a joint venture between Tata and Boeing. Similarly, Lohia Group and Adani Defense make fuselages for Israeli drones.
₹35,000 crore exports in the next five years
In 2020, Prime Minister Narendra Modi’s government had set a target of 35,000 crore exports in the aerospace sector and defense services and goods over the next five years. In addition, more than 100 products are in the pipeline, including infrastructure to process and store data for classified AI applications.
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