“…there was an increase within the variety of export authorisations issued to defence exporters. From 1,414 export authorisations in FY23, the quantity has elevated to 1,505 in FY24,” the Financial Survey mentioned.
Round 100 home corporations are exporting a variety of defence merchandise and gear, starting from Dornier-228 plane, artillery weapons and BrahMos supersonic cruise missiles to Pinaka multi-launch rocket methods, radars, simulators and armoured autos.
Whereas the survey didn’t determine nations to which India was exporting arms, the previous Soviet republic of Armenia has emerged as a significant vacation spot, with offers inked for Pinaka rockets and Akash air defence missiles. As per the defence ministry, India posted highest-ever annual home defence manufacturing in 2023-24, reaching Rs 1.26 lakh crore by way of worth, 16.7% increased over the earlier fiscal.
India, after all, nonetheless stays within the strategically susceptible place of being the world’s largest arms importer, accounting for 9.8% of whole international imports in 2019-23.
