India Arming The World: Records 30-Fold Leap In Weapons Exports

NEW DELHI, (IANS) – India’s defense exports have recorded a 30-fold quantum leap over the last 10 years from a mere Rs 686 crore in the financial year 2013-14 to a record Rs 21,083 crore in FY 2023-24, reflecting the global acceptability of Indian defense products and technologies.

With exports reaching more than 85 countries across Southeast Asia, the Middle East, Africa and Latin America, India’s defense industry has around 100 firms exporting defense products at present.

A significant development has been the emergence of the private sector as a supplier of defense equipment with companies such as Larsen &Toubro, Tata Advanced Systems, and Bharat Forge emerging as major players.

Of the total value of production in 2023-24, about 79.2 per cent has been contributed by DPSUs/other PSUs and 20.8 per cent by the private sector. The official data shows that in terms of absolute value, both DPSUs/PSUs and the private sector have recorded steady growth in defense production.

India’s export basket of defense products includes missiles, radars, naval systems, helicopters, and surveillance equipment.

India has made substantial progress in the indigenous production of advanced naval systems that also cater to the export market. Fast-attack naval craft, offshore patrol vessels, and various maritime weapon systems are other products that are being exported. The export of BrahMos supersonic cruise missiles, developed jointly with Russia, has been exported to countries like the Philippines.