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Defence exports reach an all-time high of approx. Rs 16,000 crore in Financial Year 2022-23;

Newdelhi:1/4/23:Through consistent policy initiatives of the Government and tremendous contribution of the defence industry, India has achieved a remarkable milestone in defence exports in Financial Year 2022-23. The exports have reached an all-time high of approx. Rs 16,000 crore, almost Rs 3,000 crore more than the previous financial year. It a rise of over 10 times since 2016-17. Details are given below:

(Rs in crores)

 

Financial Year

 

 

Total Export Value

 

2016-17

 

 

1,521

 

2017-18

 

4,682

 

 

2018-19

 

10,745

 

 

2019-20

 

9,115

 

 

2020-21

 

8,434

 

 

2021-22

 

12,814

 

 

2022-23

 

15,920

 

India is now exporting to over 85 countries. Indian industry has shown its capability of design and development to the world, with 100 firms exporting defence products at present. The rising defence exports and participation of 104 countries in Aero India 2023 are proof of India’s growing defence manufacturing capabilities.

          In a tweet, Prime Minister Shri Narendra Modi described the achievement as a clear manifestation of India’s talent and the enthusiasm towards ‘Make in India’. “It also shows the reforms in this sector over the last few years are delivering good results. Our Government will keep supporting efforts to make India a defence production hub,” he said.

Raksha Mantri Shri Rajnath Singh termed record defence exports as a remarkable achievement of the country. “Under the inspiring leadership of Prime Minister Shri Narendra Modi, the defence exports will continue to grow exponentially,” he tweeted.

Image

Today, India, which was known as an importer about eight years back, exports major platforms like Dornier-228, 155 mm Advanced Towed Artillery Guns (ATAGs), Brahmos Missiles, Akash Missile System, Radars, Simulators, Mine Protected Vehicles, Armoured Vehicles, PINAKA Rockets & Launchers, Ammunitions, Thermal Imagers, Body Armours, besides Systems, Line Replaceable Units and Parts & components of Avionics and Small Arms. There is growing global demand of LCA-Tejas, Light Combat Helicopters, Aircraft Carrier, MRO activities etc.

To give a push to defence exports, Government has taken a number of policy initiatives and brought reforms over the last 5-6 years. Export procedures have been simplified and made industry friendly with end-to-end online export authorisation curtailing delays and bringing Ease of Doing Business.  Government has notified three Open General Export License (OGEL) for export of Parts and Components/Transfer of Technology/Major Platforms and Equipment. OGEL is one-time export license, which permits the industry to export specified items to specified destinations, enumerated in the OGEL, without seeking export authorisation during the validity of the OGEL.

Export leads received from various countries are disseminated to the registered Indian Defence Exporters through online portal on real time basis to enable them to respond to export opportunities. Regular reviews are held with Indian Missions abroad to promote Indian defence products and facilitate Indian Industry. More than 40 webinars organized with Friendly Foreign Countries (FFCs) with involvement of Industry Associations.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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