$5 Billion Defence Exports Target

Subject : Science and Technology

Section : Defence

Concept :

The defence ministry has set a target to raise India’s annual defence exports to $5 billion by 2024-25, from the $1.5 billion currently.
This was also reiterated by PM Modi at the recently concluded Aero India 2023 in Bengaluru earlier this month.

Current Defence Export Figures

As per government data, India’s defence export value till December 2022 had reached Rs 6,058 crore.
India’s defence exports have grown by 334 per cent in the past five years. They touched nearly Rs 13,000 crore in 2021-22.

Which defence equipment does India export?

The major defence items being exported are Personal Protective items, Offshore Patrol Vessels, ALH Helicopter, SU Avionics, Bharati Radio, Coastal Surveillance Systems etc.
Major items exported by India in the last three years include lightweight torpedoes, weapon locating radar, fast patrol vessels, 120 mm mortar armoured protection vehicle, 0.338 Lapua magnum sniper rifle, and simulators.

What are the major defence platforms India is looking to export?

India is in talks with Argentina and Egypt, among other countries, to export its indigenous LCA Tejas.
According to the government officials, the LCA Mk 2 has seen interest from nearly 16 countries and efforts are on to identify private production agencies to ramp up manufacturing of the jet.
India is looking to export the indigenous Advanced Light Helicopter to several countries.
India has signed a contract with Mauritius for the export of one Advanced Light Helicopter (ALH Mk III) for Mauritius Police Force.
Mauritius already operates the ALH and Do-228 aircraft, which is a multi-purpose light transport aircraft.
India is also in talks with Guyana to export the Dornier 228 and fast patrol vessels.
Last year, India signed a $375 million contract with the Philippines to export the BrahMos supersonic cruise missile.
India is looking to export the weapon system and its lighter next generation version (BrahMos NG) to over 10 countries, including South Africa, Egypt, UAE, and Saudi Arabia.
In 2022, Armenia inked a government-to-government deal to buy the DRDO-developed Pinaka multi-barrel rocket launchers, rockets and ammunition.

Major export destinations

India’s private companies and Defence PSUs currently export defence equipment to over 75 countries.
Major countries: Italy, Maldives, Sri Lanka, Russia, France, Nepal, Mauritius, Israel, Egypt, UAE, Bhutan, Ethiopia, Saudi Arabia, Philippines, Poland, Spain and Chile are some of the major export destinations.

Top customers for India’s defence export

A report released by India Exim Bank stated that Mauritius, Mozambique, and Seychelles have been among the top customers for India’s defence exports between 2017 and 2021.
India is among the top 25 exporters of major arms
According to a Stockholm International Peace Research Institute (SIPRI) report released last year, India is among the top 25 exporters of major arms.
Myanmar has been the biggest importer of Indian arms at 50 percent during the 2017-2021 period, followed by Sri Lanka at 25 percent and Armenia at 11 per cent.