India’s defense exports in the FY 2021-22 is Rs 13000 crore
Recently India’s defense exports have registered an impressive growth of 54.1% over the previous year. This export has reached an all-time high of Rs 13000 crore.
The share of the private sector in this export was 70%. The remaining contribution was from public sector undertakings. Earlier the share of private sector was around 90%.
Export destinations: the United States, the Philippines, and other countries in Southeast Asia, the Middle East, and Africa.
Major export items: Supply of BrahMos missile to Philippines, all fuselage used by US attack helicopter Apache.
India’s Light Combat Aircraft (LCA) Tejas is on the top priority list in Malaysia’s fighter jet purchase order.
The government is making concerted efforts to promote indigenous defense manufacturing in India. These also include collaborative efforts with other countries for ‘Make in India’.
India aims to achieve a defense business of USD 25 billion by the year 2025. It also includes an export target of US$ 5 billion in aerospace and defense materials and services.
Major Initiatives-
- Two Defense Industrial Corridors are being set up in Uttar Pradesh and Tamil Nadu.
- Innovation for Defense Excellence (iDEX) initiative has been launched.
- Defense Acquisition Process (DAP) 2020 has been announced to promote ‘Make in India’ and ‘self-reliance’ in the defense sector.
- Mission Raksha Gyan Shakti: This initiative has been launched to promote Intellectual Property Rights culture in the indigenous defense industry.
Source – The Hindu
