India’s Military Exports Grew 23% In 9 Years: Govt

India's military exports sharply rose and imports have declined the government said.

Exports grew 23 times between 2013-14 and 2022-23 financial years while the spending on sourcing weapons and systems from foreign countries dropped from 46 per cent of the total expenditure in 2018-19 to 36.7 per cent in December 2022, the government also said.

The defence report card comes at a time when the Centre is showcasing its achievements in various sectors on its ninth anniversary.

"India's defence exports have reached an all-time high, surging from ₹686 crore in FY 2013-14 to nearly ₹16,000 crore in FY 2022-23. This remarkable 23-fold increase reflects India's progress in the global defence manufacturing sector," a statement from the government read.

Earlier this month, India had announced 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 back.

India produces several weapons and systems that include, various types of helicopters, Tejas light combat aircraft, warship, artillery guns, missiles, rockets and a variety of military vehicles.

India is eyeing a turnover of Rs 1,75,000 lakh crore in defence manufacturing by 2024-25.

India currently exports military hardware to 85 countries, with around 100 firms involved in the outbound shipments. These include missiles, artillery guns, rockets, armoured vehicles, offshore patrol vehicles, radars, surveillance systems, ammunition and personal protective gear.

"To give a push to defence exports, the government has taken a number of policy initiatives and brought reforms over the last nine years. Export procedures have been simplified and made industry-friendly, with end-to-end online export authorisation curtailing delays and bringing ease of doing business," the statement also read.