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The Rise of India’s Defence Exports

India’s defence exports have achieved a grand success and as of the current fiscal year 2023-24, total worth of the export has reached a record high of ₹21,083 crore , (approximately $2.63 billion). For the year 2023-24, this is our most significant accomplishment, a massive 32.5 percent rise as against the growth rate of last fiscal year 2022-23 and a 31-fold increase from 2013-14 which is equal to 2013-14.

It is clear that this fantastic growth in defence machinery exports is a showcase of government’s solid stand in advancing self-reliance and revamping the country’s defence production. The Government of India made series of reforms in policies, easing of doing business initiatives and development of end-to-end digital solutions which created better ambience to increase the development of country’s domestic defence industry.

The Real Risks Behind the Export Surge

The private sector has without a doubt, a significant share in this power, to about 60% of the exports. The figure of 40% defense public sector undertakings has stabilized the remaining 40 percent. This successful collaboration of the public sector with private sector not only helped in the diversification of India’s defence product base but achieved even the global recognition as well.

Some of the major exported products include the powerful Brahmos cruise missiles, which are capable of confronting entities on land and in the water; the versatile Pinaka rockets and launchers; offshore patrol vessels; air defence missiles, namely Akash missiles; artillery guns that can travel 155mm and reach farther destinations; several simulators; night vision devices; armored vehicles; and a few This cutting-edge technologies and capabilities developed for the global market have been appreciatively welcomed by the audience, which furthermore acknowledges India growth in the defence sector.

Expanding Global Footprint

In the face of what it has delivered to around 85 countries, India has proven its international acknowledgment as well as its growing demands at the global level. Nevertheless, as one can see, the rate of the country’s export growth remains really remarkable in this field. India nevertheless is still far behind the leaders in volume of the global arms trade, which means that it does not rank among the 25 top-exporting countries.

Therefore, the government has created a vision of increasing budget size to ₹35,000 crores by 2025, which is a part of the ₹1.75 lakh crore consolidated programme of defence production as of now. India intends to do this by consistently evolving its strategic vision and thereby making sure that the country becomes the one with a trusting and competent defence supply.

Conclusion

Indian defence exports demonstrated clearly that the country not only defends self-reliance but it also has skills and tools to create advanced defence technologies for the world. The synergy between the public, private and political spheres, which has been happily used, is among the main reasons of the sustained growth.

While there are a great number of activities that India may empower in this direction, it is already gaining more ground and consequently playing a larger part in shaping the global security scene. In addition to it, this accomplishment assists to broaden India’s strategic freedom that, on the other hand, improves India’s prominence on the international defence market and perfectly creates the framework for the economic and geopolitical gains.

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