https://sputniknews.in/20240129/india-emerges-as-leader-among-top-25-countries-in-defense-exports-6370882.html
India Emerges as Leader Among Top 25 Countries in Defense Exports
India Emerges as Leader Among Top 25 Countries in Defense Exports
Sputnik India
India's Union Minister Ajay Bhatt said that for the first time, India has emerged as the leading country among the top 25 nations in defence exports.
2024-01-29T14:50+0530
2024-01-29T14:50+0530
2024-01-29T14:50+0530
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India's Union Minister Ajay Bhatt said that for the first time, India has emerged as the leading country among the top 25 nations in defence exports.Bhatt added that almost all defence industries have benefited from the decentralisation of ammunition factories. According to the Indian Ministry of Defence, about 50 private companies are involved in defence exports.Major destinations for Indian defence exports were The main items exported are personal protective equipment, offshore patrol vessels, helicopters, coastal surveillance systems, radar spares, electronic systems and light mechanical equipment.Indian media recently reported figures from the Ministry of Defence showing a tenfold increase in India's defence exports over the last six years. In the fiscal year 2022-23, exports reached an unprecedented high of INR 159 billion, a significant increase of 24% from the previous year's INR 128 billion.The report added that Russia was the largest supplier of arms to India in the last five years (2018-22), providing 45% of its requirements, followed by France (29%) and the US (11%). Between 2018 and 2022, India's share of total global arms imports was 11%, making it the largest importer of defence equipment. India has maintained its position as the largest arms importer since 1993.
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ajay bhatt, india as 25 largest nations in defense exports, self-sufficient in defense production, defense exports, defense industries, italy, maldives, sri lanka, russia, france, nepal, mauritius, israel, and egypt, offshore patrol vessels, helicopters, coastal surveillance systems, radar spare parts, electronic systems, and mechanical light equipment, defense supplies,
ajay bhatt, india as 25 largest nations in defense exports, self-sufficient in defense production, defense exports, defense industries, italy, maldives, sri lanka, russia, france, nepal, mauritius, israel, and egypt, offshore patrol vessels, helicopters, coastal surveillance systems, radar spare parts, electronic systems, and mechanical light equipment, defense supplies,
India Emerges as Leader Among Top 25 Countries in Defense Exports
Deexa Khanduri
Sputnik correspondent
According to Minister of State for Defence Ajay Bhatt, India's defence exports have seen an astonishing growth, rising from over INR 46.8 billion (equivalent to over $563 million) in 2017-18 to over INR 159 billion (equivalent to over $1.9 billion) in 2022-23.
India's Union Minister Ajay Bhatt said that for the first time, India has emerged as the leading country among the top 25 nations in defence exports.
"India is becoming self-sufficient in defense production and leads among the top 25 countries in defense exports for the first time. The Indian government has published
four lists of 4,666 defense components whose import is prohibited, resulting in huge savings," the Minister of State for Defence said at the Advantage Vidarbha program in Nagpur city.
Bhatt added that almost all defence industries have benefited from the decentralisation of ammunition factories. According to the Indian Ministry of Defence, about 50 private companies are involved in defence exports.
Major destinations for Indian defence exports were
The main items exported are personal protective equipment, offshore patrol vessels, helicopters, coastal surveillance systems, radar spares, electronic systems and light mechanical equipment.
Indian media recently reported figures from the Ministry of Defence showing a tenfold increase in India's defence exports over the last six years. In the fiscal year 2022-23, exports reached an unprecedented high of INR 159 billion, a significant increase of 24% from the previous year's INR 128 billion.
The report added that Russia was the largest supplier of arms to India in the last five years (2018-22), providing 45% of its requirements, followed by France (29%) and the US (11%). Between 2018 and 2022, India's share of total global arms imports was 11%, making it the largest importer of defence equipment. India has maintained its position as the largest arms importer since 1993.
