India’s defence exports for the fiscal year 2022-2023 reached a record high of approximately Rs 16,000 crore. This marks a significant increase of over 10 times since 2016-2017, when defence exports stood at Rs 1,521 crore. India has set an ambitious target of achieving Rs 35,000 crore in defence exports by 2024-2025.
As per the Ministry of Defence, India exports various major platforms such as the Akash missile, BrahMos, Pinaka, Dornier-228, thermal imagers, 155 mm Advanced Towed Artillery Guns (ATAGs), radars, simulators, body armours, and mine protected vehicles. Additionally, there is a growing demand for platforms like the Light Combat Helicopters, Aircraft carrier, and the Light Combat Aircraft (LCA) Tejas.
The rise in India’s defence exports can be attributed to several policy measures. In a video discussion, Professor Harsh V Pant, Vice President for Studies & Foreign Policy at Observer Research Foundation, emphasizes the role of positive indigenisation lists in helping India move closer to its goal of becoming a net exporter of arms. However, Professor Pant also underscores the dual threat faced by India from Pakistan and China, highlighting the need for both exports and defence imports to bolster India’s defence modernization efforts.
To achieve the target of Rs 35,000 crore in defence exports, Professor Pant suggests that India should focus on exporting niche weapon systems. He also believes that India’s position as a top arms importer, as revealed by SIPRI’s recent data, could gradually change with increased sharing of defence technology by Western countries due to geopolitical developments. Professor Pant credits the government’s foreign policy and Prime Minister Narendra Modi’s visits to the United States and France for the growing emphasis on defence ties and export potential.
Despite the notable growth in defence exports, India is yet to feature among the top 25 global defence exporters. However, Professor Pant remains optimistic about India’s potential in this sector and expects its ranking to improve in the coming years.
