Indian Defence Export Surges 30-Fold In A Decade

<p>India has witnessed a substantial growth in its defence exports over the last decade, as supply of arms increase with record-high figures multiplying over 30 times. According to recent defence ministry data, supplies of Indian military hardware to more than 90 nations worldwide. The reason behind this growth can be attributed to the need fueled by ongoing global conflicts - the Russia-Ukraine war and the Israel-Hamas conflict.&nbsp;</p> <p>The geopolitical tensions brewing from these massive conflicts, which have claimed hundreds of lives, have led countries to strengthen their existing defence capabilities, which in turn has led India to become a key supplier.</p> <p>According to the Defence Ministry, India&rsquo;s defence exports increased by 78 per cent in the first quarter of 2024-2025, demonstrating a significant jump in exports.&nbsp;</p> <p>The defence exports reached Rs 6,915 crore in April-June 2024 compared to Rs 3,885 crore in the same period in 2023.&nbsp;</p> <p>In 2023-2024, defence exports reached a record Rs 21,083 crore (about $2.63 billion), up 32.5 per cent from Rs 15,920 crore, recorded in the previous year.</p> <p>The United States has emerged as the biggest buyer of Indian military products, accounting for nearly 50 per cent of the country&rsquo;s total defence exports. Besides the US, Myanmar has also been a prominent importer of Indian defence exports, particularly fuses and ammunition.&nbsp;</p> <p>Israel and Armenia too have emerged as important buyers.&nbsp;</p> <p>The Narendra Modi government, in 2020, set an ambitious target to achieve Rs 35,000 crore ($5 billion) in defence exports within the next five years.&nbsp;</p> <p>This goal was part of India&rsquo;s larger plan to achieve a turnover of Rs 1.75 lakh crore ($25 billion) in defence manufacturing by 2025.</p> <p>In order to achieve this, India has signed various contracts, including the BrahMos missile deal with the Philippines and artillery and air defence systems deals with Armenia.&nbsp;</p> <p>Besides this, the PM Modi-led government has also made it much easier to secure licences and simplified the approval process to promote exports.</p> <p>The Indian government is also more willing than before to supply lethal weapons to other countries.&nbsp;</p> <p>Additionally, India is also offering easy credit and diplomatic support in a bid to increase the supply of defence goods to Africa and other nations.</p> <p>Although the specific details about the types of exports or the countries involved have not been revealed by the government, India&rsquo;s defence exports reportedly include a wide variety of products.&nbsp;</p> <p>From ammunition, bulletproof jackets, and small arms like sniper rifles, to more advanced items such as light torpedoes, drones, fast attack ships, and armoured vehicles, India is exporting it all.</p>

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