Defence exports reach Rs 15,920cr in 2022-23

New Delhi: India’s export of military hardware reached an all-time high of Rs 15,920 crore in the financial year 2022-2023 with Prime Minister Narendra Modi describing it as a clear manifestation of enthusiasm towards ‘Make in India’ initiative.

The value of total defence exports in 2022-23 is a ten-fold increase compared to the amount of Rs 1,521 crore recorded in exporting military hardware in 2016-17.

“India’s defence exports have reached an all-time high of Rs 15,920 crore in FY 2022-2023. It is a remarkable achievement for the country,” Defence Minister Rajnath Singh said on Twitter.

“Under the inspiring leadership of PM Shri @narendramodi, our defence exports will continue to grow exponentially,” he said.

In a tweet, Modi described the achievement as a clear manifestation of India’s talent and 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.

The key platforms that India has been exporting are Dornier-228 aircraft, 155 mm Advanced Towed Artillery Guns (ATAGs), Brahmos missiles, Akash missile system, radars, mine-protected vehicles, armoured vehicles, Pinaka rockets and launchers, ammunition, thermal imagers and various components of avionics and small arms.

There is growing global demand for Light Combat Aircraft Tejas, light combat helicopters and aircraft carrier, MRO (maintenance, repair and operations) facilities, the ministry said.

The ministry also said that India is now exporting military hardware to over 85 countries.