TSAMTO, April 2. India's defense exports in 2023/24 fiscal year amounted to 210.83 billion. rupees ($2.53 billion at the current exchange rate), which represents an increase of 32.5% compared to the previous financial year.
This was announced by Indian Defense Minister Rajnath Singh on April 1, according to The Hindu.
According to the minister, India is still the world's largest importer of weapons, nevertheless, due to the implementation of the Atmanirbhar Bharat strategy ("Independent India" is the slogan and strategy of the government, on which all development plans are based) in the last decade, more than 100 private and public sector enterprises have become exporters of military products (PVN). At the same time, more than 85 countries of the world have become importers of Indian weapons over the same period.
According to comparative data provided by the Ministry of Defense of India for two decades, from 2004/05 to 2013/14 and from 2014/15 to 2023/24, exports of PVN increased 21 times. The total volume of defense exports in the period from 2004/05 to 2013/2014 amounted to 43.12 billion rubles. In the period from 2014/15 to 2023/24, it reached 883.19 billion rupees. rupees. The ministry believes that such significant growth has been achieved thanks to political reforms and business facilitation initiatives put forward by the government, as well as comprehensive government digital solutions provided to the Indian industry to strengthen defense exports.
The key items in defense exports are: Akash short-range anti-aircraft missile systems, Do-228 transport and maritime patrol aircraft, ALH Dhruv light multipurpose helicopters, BrahMos coastal defense missile systems, patrol ships, unmanned aircraft systems, radar stations, simulators, explosives, avionics, surveillance systems, body armor, armored vehicles, etc .
Among the main exporters are 21 countries (in alphabetical order): Armenia, Brazil, Bhutan, Guyana, Egypt, Israel, Spain, Italy, Mauritius, Maldives, Nepal, UAE, Poland, Russia, Saudi Arabia, USA, France, Philippines, Chile, Sri Lanka and Ethiopia.
In addition, India has also received requests from Nigeria and Argentina for LCA Tejas light combat aircraft and 155 mm advanced towed ATAG artillery pieces.
The Indian defense industry is also involved in maintenance and repair work. For example, at the end of last month, Larsen and Toubro (L&T) took over two British Navy ships at the shipyard in Kattupalli, near Chennai, for scheduled maintenance. The work is being carried out in accordance with the general agreement signed in July 2023, which provides for the maintenance of warships over the next five years. According to sources, a similar agreement with Mazagon Docks Ltd and Goa Shipyard Ltd is also in the final stages of approval.
At the same time, India is "eyeing" the defense market of South America. A credit line in the amount of $23.37 million has recently been extended. Guyana, which allowed it to purchase two Do-228 aircraft from Hindustan Aeronautics Ltd (HAL). Guyana is also reportedly in talks with India to acquire armored vehicles, patrol ships and radar systems.
