The rise of Indian defence manufacturers has helped the country increase its defence exports by 24% from 2021 to 2023. In 2023, the Ministry of Defence marked a historic year with defence exports reaching ₹16,000 crore, almost ₹3,000 crore more than the previous year. This is a 10-fold increase from 2016.

The Ministry of Defence marked a historic year in 2023, witnessing a surge in defence exports, reaching an unprecedented ₹16,000 crore in the financial year—almost ₹3,000 crore more than the preceding year. Concurrently, defence production crossed the monumental milestone of ₹one lakh crore for the first time.

The rise of Indian Defence manufacturers has helped India increase its Defence exports by a whopping 24% from 2021 to 2023. But have these companies done enough to make the Indian government's grand 'Make in India' plan a success?

Indian defence exports have reached an all-time. high from its exports being pegged at $1.3 billion 5 years ago it has now risen to over 1.9 billion in the year 2022. and 2023. and this is a 10-fold increased from the year 2016 the number of exports have increased. and so has the expanse of its arms sale India is currently exporting to over 85. countries in the world with around 100 firms exporting defence products at present major buyers include Russia Poland Spain Maldives and Nepal Myanmar Sri Lanka and Armenia have also emerged as the top buyers between the year 2017. and 2021 now the surgeon exports.

India's defence exports are driven by several weapons, including the Brahmos missile, the Akash missile system, and the Pinaka rockets and launchers. India exports to over 85 countries worldwide, with major buyers including Russia, Poland, Spain, Maldives, Nepal, Myanmar, and Sri Lanka.

This surge in profits reflects the industry’s commitment to self-reliance and strategic capability enhancement. As India continues to strengthen its Defence capabilities, it’s essential to ensure sustainable growth and technological advancements in this crucial sector.

(With Agency Inputs)