India’s defence export landscape has experienced an extraordinary transformation over the past decade, skyrocketing from Rs 686 crore in 2013-14 to an impressive Rs 23,622 crore projected for 2024-25. This remarkable 34-fold increase underscores India’s rising capabilities in the global defence manufacturing arena.
Strong Contributions from the Private Sector
In the upcoming fiscal year, the private sector will play a pivotal role, contributing approximately Rs 15,233 crore to defence exports. On the other hand, Defence Public Sector Undertakings (DPSUs) are expected to achieve exports worth Rs 8,389 crore. Notably, DPSUs have experienced a significant 42.85% growth in exports, driven by the surging international demand for Indian defence solutions.
- Private Sector Exports: Rs 15,233 crore
- DPSU Exports: Rs 8,389 crore
- DPSU Growth Rate: 42.85%
Rise in Authorizations and Exporters
In tandem with this impressive export growth, export authorizations have jumped by 16.92%, and the number of active exporters has increased by 17.4%. This trend highlights the expanding capabilities of India’s defence manufacturing sector.
India’s defence exports now reach around 80 countries, with an ambitious goal set to achieve Rs 50,000 crore in exports by 2029. This growth not only showcases India’s enhanced global footprint in defence manufacturing but also signals a burgeoning influence in the international defence marketplace.
Government Initiatives Fueling Growth
The government’s commitment to fostering indigenous defence manufacturing, particularly through initiatives like “Atmanirbhar Bharat” (Self-Reliant India), has been instrumental in this remarkable growth. As India strides towards its 2029 target, the outlook for its defence exports remains exceptionally promising, positioning the nation as a formidable player in the global defence sector.
In conclusion, the substantial growth in India’s defence exports reflects both a strategic national interest and a response to global demand, ensuring that the nation’s defence manufacturing capabilities will continue to evolve and expand in the coming years.
