India’s defense exports grew 23-fold in nine years, surpassing $1.9 billion in FY22-23

India’s defense exports have hit an all-time high, rising from 686 crore rupees in 2013-2014 to almost 16,000 crore rupees in 2022-23. This remarkable 23-fold increase reflects India’s progress in the global defense manufacturing sector. With exports to more than 85 countries, the country’s defense industry has proven its design and development capabilities to the world. Currently, 100 companies export defense products. The government has launched a series of policy initiatives and reforms over the past nine years to boost arms exports.

Atmanirbhar Bharat’s initiatives have helped the country by encouraging domestic design, development and manufacture of defense equipment in the country, reducing long-term dependency on imports. Spending on defense procurement from foreign sources has fallen from 46 percent of total spending in 2018-19 to over 36 percent in December last year.

Once known primarily as an importer of defense equipment, India now exports a wide range of important platforms, including aircraft such as the Dornier-228, artillery pieces, Brahmos missiles, PINAKA missiles and launchers, radars, simulators and armored vehicles. Global demand for India’s native products, including LCA tejas, light attack helicopters, aircraft carriers and MRO activities, is also increasing.

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