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Arms exports by India have hiked tremendously in recent years. The defence ministry said on Friday that arms supply to other nations has been increased approximately six times since 2014, with the current fiscal year registering Rs 11,607 crore till now.
According to junior defence minister Ajay Bhatt in a written reply in the Lok Sabha on March 21, defence exports increased from Rs 1,941 crore in the 2014–2015 fiscal year to Rs 11,607 crore in 2021–2022. During this period, many reforms and steps have been taken by the government to boost defence exports and enhance the ease of doing business, “he said.
Defence exports have risen to Rs 11,607 crore.
In a written reply in the Lok Sabha, junior Defence Minister Ajay Bhatt said that the value of defence exports has risen to Rs 11,607 crore in FY2021-22 from Rs 1,941 crore in FY15. During this period, many reforms and steps have been taken by the government to boost defence exports and enhance the ease of doing business, “he said.
While standard operating actions for the export of munitions list items have been simplified, powers have also been delegated to DRDO and CMDs of defence PSUs to explore export opportunities and participate in global tenders.
The corporatisation of the Ordnance Factory Board and its 41 factories into seven defence PSUs will also help in boosting exports, he said.
While standard operating procedures for the export of weapons list items have been simplified, powers have also been delegated to DRDO and the CMDs of defence PSUs to explore export opportunities and participate in global tenders.
The corporatisation of the Ordnance Factory Board and its 41 factories into seven defence PSUs will also help in boosting exports, he said.
Govt set arms export target of $5 billion
The government has set an annual export target of $5 billion (Rs 36,500 crore) by 2025. India is also in discussions with countries, including Saudi Arabia and the UAE, to export the BrahMos missiles and the Akash air defence missiles.
India inks an agreement with Philippines to export BrahMos.
India on Friday inked a $375 million (Rs 2,770 crore) contract to export BrahMos supersonic cruise missiles to the Philippines, which will pave the way for more such deals with the country as well as other ASEAN countries like Indonesia and Vietnam.
This first-ever contract to export the 290-km range BrahMos missiles, which have been developed jointly with Russia, is strategically significant in the backdrop of China’s strong-arm tactics with its neighbours like the Philippines in the South China Sea, as well as an important milestone in India’s quest to become a major arms exporter.
The contract, under which three missile batteries of the shore-based anti-ship version will be delivered within two years, was inked by Philippine secretary of national defence Delfin Lorenzana and BrahMos Aerospace chief Atul D. Rane.
India targets Rs 36,500 crore by 2025
The Indian government has set an ambitious annual export target of around Rs 36,500 crore by 2025. According to Bhatt, the corporatisation of the Ordnance Factory Board (OFB) and its 41 factories into seven defence PSUs will also aid in increasing exports.
It means India has made leaps and bounds of progress in the arms deal. The exports made by India are an achievement. It seems that in the next 10 years, India will be a major arms exporter to many countries.
