Indias defense exportshave achieved a record-breaking milestone, skyrocketing from 686 crore rupees in 2013-14 to nearly 16 thousand crore rupees in 2022-23. This impressive Growth of 23 times demonstrates Indias advancement in theglobal defense manufacturing .
With exports reaching more than 85 countries, Indias defense sector has demonstrated its ability to design and develop high-quality products to the international community.
Currently, 100 companies are engaged in exporting defense goods.
The government has implemented several policy initiatives and reforms in the past nine years to bolster defense exports.
TheAtmanirbhar Bharatinitiatives have greatly benefitted India by promoting indigenous design, development, and manufacturing of defense equipment within the country.
This strategy aims to reduce dependence on imports in the long run.