New Delhi (Agency): In a significant boost for the “Make in India” initiative in the defence sector, India’s defence exports have hit a new record. The Defence Ministry revealed on Friday that these exports have reached nearly Rs 16,000 crore in the financial year 2022-2023. This marks a 23-fold increase, and Indian defence products are now reaching over 85 countries worldwide.
The surge in defence exports includes sales of key defence systems. Notable among them are the BrahMos supersonic cruise missiles, Akash air defence systems, and artillery guns. These advanced systems have been sold to countries that have friendly relations with India.
The Ministry outlined that the export strategy focuses on identifying new markets. Specifically, the aim is to establish long-lasting relationships with countries that are interested in military hardware. This approach has enabled the Indian defence industry to compete globally, particularly in regions like South East Asia and Africa.
“With a 23-fold increase in exports, Indian design and development capabilities are reaching over 85 countries,” the Defence Ministry announced.
The rise in exports comes at a crucial time when India is looking to expand its “Make in India” initiative. By achieving this new high, the Indian defence sector has proven its capabilities not only in design and development but also in competitive global markets. The sector is now competing successfully with established international firms for exporting their military hardware.
The Defence Ministry’s announcement is seen as a positive development in India’s journey to become self-reliant in the defence sector. As India continues to forge new partnerships and strengthen old ones, the upward trend in defence exports is likely to continue.
The current export achievement is expected to have wide-ranging implications. Besides boosting India’s economic growth, it will also strengthen India’s strategic ties with various nations. The defence exports will serve as a tool for diplomacy and foster a secure environment in regions where the Indian defence products are deployed.
This record-breaking accomplishment indicates that India is becoming a significant player in the global defence market. As the Indian defence industry gains more ground, it is expected to open new avenues for innovation, collaboration, and strategic partnerships. The record is not just a milestone but a sign of greater things to come for the Indian defence industry.
