Defence Exports Rising Impressively

Defence Exports Rising Impressively

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Defence Exports Rising Impressively

Shri Rajnath Singh, Raksha Mantri has said that India’s defence exports have grown eightfold in the last six years — from Rs 1,521 crore in 2016-17 to Rs 12,815 crore in 2021-22. The major contribution in this growth has come from the private sector. During 2021-22, the private sector has contributed almost 70 per cent of the total exports.

According to the details provided, contribution of the private sector in India’s defence exports in 2016-17 was Rs 194 crore while the total value of exports was Rs 1,521 crore.In 2017-18, the value of India’s total exports was Rs 4,682 crore including Rs 3,163 crore worth of exports by the private sector.

The contribution of the private industries went up to Rs 9,813 crore in 2018-19 while the total volume was Rs 10,746 crore. In 2019-20, the total exports were valued at Rs 9,116 crore out of which Rs 8,008 crore was from the private sector.

The volume of exports in 2020-21 was Rs 8,435 crore which included the contribution of Rs 7,271 crore by the private industries. The total defence exports went up to Rs 12,815 crore in 2021-22 out of which Rs 8,800 crore was contributed by the private sector, the details furnished by Singh showed.

About 80 countries import Indian defence equipment, sub-systems, parts and components. However, the names of the countries cannot be divulged due to strategic reasons, said Rajnath Singh.

The percentage of capital expenditure incurred by the armed forces for the import of equipment and military hardware has also witnessed a steady decline in the last three years. This has been revealed by the data provided by the government in Lok Sabha on Friday. According to the details furnished by the Raksha Mantri, the armed forces spent Rs 38,156 crore on importing military hardware in 2019-20 which was 41.89 per cent of the total capital procurement.

In 2020-21, the capital expenditure on imports was Rs 42,786 crore but the percentage came down to 36 compared to the overall procurement of hardware.

The capital expenditure on imports in 2021-22 was Rs 39,650 crore and it was 35.28 per cent of total procurement.

The government has initiated a series of measures in the last few years to boost domestic defence manufacturing.

India till recently has been one of the largest importers of arms globally. According to estimates, the Indian armed forces are projected to spend around Rs 104000 crore in capital procurement in the next five years.

The government is now rapidly reducing dependence on imported military platforms. The defence ministry has set a goal of a turnover of Rs 1.75 lakh crore in defence manufacturing in the next five years that included an export target of Rs 40000 crore worth of military hardware.