India’s defence exports have skyrocketed in recent years, increasing from Rs. 686 Crore in FY 2013-14 to nearly Rs. 16,000 Crore in FY 2022-23. This is a 23-fold increase and shows India’s progress in the global defence manufacturing sector. Over 100 firms are currently exporting defence products to more than 85 countries around the world.
To support this growth, the Indian government has implemented policy initiatives and reforms over the last nine years. Export procedures have been streamlined and made more industry-friendly, with online authorisation to reduce delays and improve ease of doing business. Additionally, the Atmanirbhar Bharat initiatives have encouraged indigenous design, development and manufacture of defence equipment in the country, reducing dependency on imports over time.
As a result of these efforts, India is now exporting a wide range of major platforms, including aircraft like the Dornier-228, artillery guns, Brahmos Missiles, PINAKA rockets & launchers, radars, simulators, and armoured vehicles. The global demand for India’s indigenous products, such as the LCA-Tejas, Light Combat Helicopters, Aircraft Carriers, and MRO activities, is also increasing.
Furthermore, India’s expenditure on defence procurement from foreign sources has decreased from 46% of overall expenditure in 2018-19 to 36.7% in December 2022. This shows that India is becoming increasingly self-sufficient in its defence manufacturing capabilities.