India’s defence exports reach all-time high, ten fold rise since FY16-17
India's defence exports skyrocket as it focuses on making its own weapons and specialised systems. Despite challenges from neighbouring countries, India aims to become a major player in the global arms market, pursuing ambitious targets.
India’s defense exports have reached a record high in the fiscal year 2022-23, surging to around Rs 16,000 crore. This marks a remarkable increase of over ten times compared to the Rs 1,521 crore recorded in 2016-17. Encouraged by this growth, India has set a goal of achieving defense exports of Rs 35,000 crore by 2024-25.
The Ministry of Defence has identified several key platforms driving India’s defense exports, including the Akash missile, BrahMos, Pinaka, Dornier-228, thermal imagers, 155 mm Advanced Towed Artillery Guns (ATAGs), radars, simulators, body armors, and mine-protected vehicles. Additionally, there is a growing demand for platforms like Light Combat Helicopters, Aircraft Carriers, and the Light Combat Aircraft (LCA) Tejas.
Professor Harsh V Pant, Vice President for Studies & Foreign Policy at Observer Research Foundation, attributes India’s rising defense exports to positive indigenisation policies. By prioritizing domestic production of defense equipment, India has improved its manufacturing capabilities and become a global supplier of advanced weaponry.
However, India faces challenges from Pakistan and China. To ensure national security, Professor Pant emphasises the importance of modernising India’s defense forces through a combination of exports and imports, striking a balance between the two.
To further strengthen India’s position as a major arms exporter, Professor Pant suggests focusing on exporting specialised weapon systems. Although India has experienced significant growth in defense exports, it is not currently among the top 25 global defense exporters. However, Professor Pant remains optimistic that India’s status will gradually change as Western countries share advanced defense technology due to evolving geopolitical circumstances.
In conclusion, India’s defense exports have reached unprecedented levels, driven by indigenization efforts and the export of specialised weapon systems. India aims to achieve its ambitious target of Rs 35,000 crore in defense exports by 2024-25. By pursuing a balanced approach that combines defense exports and imports, India can ensure comprehensive defense modernisation aligned with its national security needs. As defense technology cooperation improves and international interest grows, India is set to establish itself among the leading global arms exporters.
