In a bid to boost defence exports, the Indian government has implemented several key policy initiatives over the past decade. According to the Economic Survey 2024, these efforts have simplified export procedures, making them more industry-friendly. The introduction of end-to-end online export authorizations has significantly reduced delays, facilitating easier business operations for the defence sector.
Aatmanirbhar Bharat and Indigenous Production
The Aatmanirbhar Bharat initiative has played a crucial role in promoting the indigenous design, development, and manufacture of defence equipment. This initiative aims to reduce India’s dependency on imports by encouraging self-reliance in defence production. Consequently, India’s defence production saw a substantial increase from Rs 74,054 crore in FY17 to Rs 108,684 crore in FY23, stated the survey.
Transition from Importer to Exporter
According to the survey tabled in the Parliament today, between 2015 and 2019, India was the world’s second-largest arms importer. However, recent years have seen a significant shift. India has now positioned itself among the top 25 arms-exporting nations. This transformation has been driven by the concerted efforts of the defence industry, including the private sector and Defence Public Sector Undertakings (DPSUs).
Rising Defence Exports
India’s defence exports have reached new heights, with a marked increase in the number of export authorizations. The number of authorizations rose from 1,414 in FY23 to 1,507 in FY24. Currently, around 100 domestic companies are exporting a diverse range of defence products and equipment. These exports include aircraft like the Dornier-228, artillery guns, BrahMos missiles, PINAKA rockets and launchers, radars, simulators, and armoured vehicles.
The ongoing focus on self-reliance and industry-friendly policies continues to strengthen India’s defence export sector, contributing to the country’s growing stature in the global defence market.