Union Minister Anurag Thakur on Wednesday said India’s defence exports is projected to surge to Rs 40,000 crore by 2026, driven by government’s policy initiatives and reform efforts in the sector.
In FY 2022-2023, India’s defence exports reached an all-time high of Rs 15,920 crore, marking a 23-fold jump from Rs 686 crore recorded in FY 2013-14.
Thakur said that India is committed to strengthening its defence capabilities, emphasizing that the country’s defence production value has crossed Rs 1 lakh crore. He pointed out that India currently exports defence equipment to over 85 countries.
India’s defence exports cover a wide range of sophisticated weaponry and systems, including Dornier-228 aircraft, 155 mm Advanced Towed Artillery Guns (ATAGs), Brahmos Missiles, Akash Missile System, radars, simulators, mine protected vehicles, armoured vehicles, PINAKA rockets and launchers, ammunitions, thermal imagers and body armours. There is also a growing demand for LCA-Tejas aircraft, Light Combat Helicopters, Aircraft Carriers, Maintenance, Repair, and Overhaul (MRO) activities, among others.
The government has simplified export procedures, making them industry-friendly by introducing end-to-end online export authorisation which minimizes delays and brings Ease of Doing Business. It has also notified three Open General Export License (OGEL), allowing industries to export specified items without seeking export authorisations.
