According to a report shared by the Union Ministry, military exports in the country have seen a rise and decline in imports over the past nine years.The information by the central government came in as its achievements report card on its ninth anniversary. According to the numbers shared by the defence ministry the exports have seen growth almost 23 times between the financial year 2013-14 and 2022-23, while the expenditure on imports has seen a decline of 46 percent in total.आज हम अनेक देशों को रक्षा साजो सामान निर्यात कर रहे हैं, पिछले कुछ वर्षों में हमारा निर्यात कई गुना बढ़ा है। बाहर के देश हमारे रक्षा उपकरणों में दिलचस्पी दिखा रहे हैं। हमें इस गति को और तेज करने की आवश्यकता है: श्री @rajnathsingh— रक्षा मंत्री कार्यालय/ RMO India (@DefenceMinIndia) May 15, 2023“Indias defence exports have reached an all-time high, surging from Rs 686 crore in FY 2013-14 to nearly Rs 16,000 crore in FY 2022-23. This remarkable 23-fold increase reflects Indias progress in the global defence manufacturing sector,” the statement said.The announcement was made by the department on May 19 that the value of defence production in the country crossed Rs 1 lakh crore for the first time on the back of key reforms to spur growth in the sector. The figure stood at Rs 1,06,800 crore in 2022-23 compared to Rs 95,000 crore in 2021-22 and Rs 54,951 crore five years ago.The Tejas light combat aircraft (LCA), several types of helicopters, warships, tanks, artillery guns, warships, missiles, rockets, and a range of military vehicles are just a few of the weapons and systems that India manufactures.In the last five years, the nation has intensified its focus on defence production and taken several steps towards self-sufficiency. These include prohibiting the import of several weapons, systems, and parts allocating a separate budget for purchasing military gear developed in-country raising foreign direct investment in the defence industry from 49 percent to 74 percent and enhancing the ease of doing business.According to the statement by the officials, India is eyeing a turnover of Rs 1,75,000 lakh crore in defence manufacturing by 2024-25. Additionally, the focus of the country is not only on cutting dependence on imports but also on boosting exports.Currently, the exports from India cover almost 85 countries, with around 100 firms involved in outbound shipments. It includes missiles, artillery guns rockets, armoured vehicles, personal protective gear, a variety of radars and surveillance systems.
