In a significant achievement, India’s defence exports reached a record-high of Rs. 21,083 crore (USD 2.63 billion) in the fiscal year 2023-24, reflecting a remarkable 32.5% growth compared to the previous year. Alongside this, the country’s indigenous defence production also set a new benchmark, with a value of Rs. 1,26,887 crore, marking a 16.7% increase. These milestones showcase India’s growing strength in domestic manufacturing and exports, driven by the combined efforts of the private sector and Defence Public Sector Undertakings (DPSUs). This achievement aligns with India’s vision of Aatmanirbhar Bharat, emphasizing self-reliance in defence.
Key Highlights of India’s Defence Achievements
Defence Exports
India’s defence exports for FY 2023-24 reached Rs. 21,083 crore, a sharp increase from Rs. 15,920 crore in the previous year. This reflects the country’s growing prominence as a global supplier of defence equipment, with exports increasing 31 times since FY 2013-14.
Indigenous Defence Production
The indigenous defence production value stood at Rs. 1,26,887 crore, showcasing a strong 16.7% growth compared to the previous fiscal year’s Rs. 1,08,684 crore. This growth underscores India’s commitment to enhancing domestic capabilities and reducing reliance on imports.
Sector Contributions
The private sector played a pivotal role, contributing 60% of defence exports, while DPSUs accounted for the remaining 40%. This collaboration highlights the balanced growth of India’s defence ecosystem.
Policies and Initiatives Driving Growth
Positive Indigenisation Lists (PILs)
The government introduced five new PILs comprising 346 items, aimed at boosting domestic manufacturing and minimizing import dependency. These initiatives focus on the production of complex systems, sensors, and advanced weaponry.
Aatmanirbhar Bharat Vision
The Defence Minister, Rajnath Singh, set an ambitious target of achieving Rs. 50,000 crore in defence exports by 2029, reinforcing the government’s commitment to self-reliance in defence manufacturing.
Strategic Significance
Global Recognition
India’s rapid growth in defence exports highlights its emerging status as a trusted supplier of arms and military technology on the global stage. This achievement strengthens India’s diplomatic and strategic partnerships.
Economic Growth
The defence sector’s success contributes significantly to the economy, fostering job creation, technological innovation, and industrial growth.
Enhanced Security
By focusing on domestic production, India reduces its dependency on foreign suppliers, enhancing its ability to respond swiftly to regional and global security challenges.
FAQs
1. What are India’s defence export figures for FY 2023-24?
India’s defence exports reached a record-high Rs. 21,083 crore (USD 2.63 billion) in 2023-24.
2. How did the private sector contribute to this growth?
The private sector contributed 60% of defence exports, reflecting its growing role in India’s defence ecosystem.
3. What are Positive Indigenisation Lists (PILs)?
PILs are government initiatives aimed at boosting domestic production by focusing on critical systems and technologies, thereby reducing import dependency.
4. What is the target for defence exports by 2029?
The government has set a target of achieving Rs. 50,000 crore in defence exports by 2029.
5. Why is this achievement significant?
This growth reflects India’s progress in self-reliance, global competitiveness, and its commitment to strengthening its defence sector.
India’s record-breaking performance in defence exports and production in 2023-24 demonstrates its rising stature as a global defence manufacturing hub. By leveraging initiatives like Positive Indigenisation Lists and focusing on Aatmanirbhar Bharat, India is steadily reducing its reliance on imports while enhancing its global reputation. The robust contributions from the private sector and DPSUs are key to maintaining this momentum and achieving the ambitious targets set for the coming years.
