Aatmanirbharta on the rise: Defence exports reach an all-time high of approx. Rs 16,000 crore in Financial Year 2022-23; Over 10-times increase since 2016-17; India exporting to over 85 countries
Through consistent policy initiatives of the Government and tremendous contribution of the defence industry, India has achieved a remarkable milestone in defence exports in Financial Year 2022-23. The exports have reached an all-time high of approx. Rs 16,000 crore, almost Rs 3,000 crore more than the previous financial year. It a rise of over 10 times since 2016-17. Details are given below:
(Rs in crores)
|
Financial Year
|
Total Export Value |
|
2016-17
|
1,521 |
|
2017-18 |
4,682
|
|
2018-19 |
10,745
|
|
2019-20 |
9,115
|
|
2020-21 |
8,434
|
|
2021-22 |
12,814
|
|
2022-23 |
15,920
|
India is now exporting to over 85 countries. Indian industry has shown its capability of design and development to the world, with 100 firms exporting defence products at present. The rising defence exports and participation of 104 countries in Aero India 2023 are proof of India’s growing defence manufacturing capabilities.
In a tweet, Prime Minister Shri Narendra Modi described the achievement as a clear manifestation of India’s talent and the enthusiasm towards ‘Make in India’. “It also shows the reforms in this sector over the last few years are delivering good results. Our Government will keep supporting efforts to make India a defence production hub,” he said.