India achieved a significant milestone in its defense exports for the fiscal year 2023, reaching a historic high of approximately $2.13 billion (INR 16,000 crore). This impressive growth represents an increase of over 10 times since the fiscal year 2017 when defense exports amounted to $205 million (INR 1,521 crore).
According to the Ministry of Defence, India exports various major platforms such as the Akash missile, BrahMos, Pinaka, Dornier-228, thermal imagers, 155 mm Advanced Towed Artillery Guns (ATAGs), radars, simulators, body armours, and mine-protected vehicles. Additionally, there is significant interest and demand for platforms like the Light Combat Helicopters, Aircraft Carriers, and Light Combat Aircraft (LCA) Tejas.
The surge in India’s defense exports can be attributed to several policy measures aimed at fostering growth. One notable factor is the implementation of positive indigenization lists, which prioritize the use of indigenous technologies and equipment, thereby incentivizing domestic defense production.
India has set an export target of $4.77 billion (INR 35,000 crore) by the fiscal year 2025 and is determined to further expand its defense exports. Experts suggest that India should focus on exporting niche weapon systems to achieve this target.
Despite the substantial growth in India’s defense exports, it is currently not among the top 25 global defense exporters. However, experts anticipate a shift in this trend as geopolitical dynamics prompt the West to share more defense technology with India.
The government’s foreign policy and Prime Minister Narendra Modi’s visits to the United States and France have played a significant role in fostering defense ties and expanding opportunities for collaboration. As India continues to strengthen its defense capabilities and foster strategic partnerships, the growth of defense exports is expected to contribute to its overall security objectives.
