01.06.23

Defence exports of India up by 23 times since 2014

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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.

Nyaya Vikasis a program initiated by theDepartment of Justicein 1993-94, aiming to develop infrastructure facilities for districts and subordinate judiciary. The program involves providing central assistance to state governments and UT administrations for constructing court halls and residential units for judicial officers and judges in district and subordinate courts.

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The scheme has been extended beyond March 31, 2021, with additional features such as lawyers halls, toilet complexes, and digital computer rooms to enhance convenience for lawyers and litigants, in addition to court halls and residential units.

According to the latestfDi Markets Reportand the Dubai FDI Monitor,Dubaihas secured its position as the leading destination for foreign direct investment (FDI) from India in the calendar year 2022. India ranked among the top five source countries for announced FDI projects and estimated FDI capital in Dubai, solidifying the emirates appeal to Indian investors. This article examines the key findings and highlights the sectors and trends contributing to this growing partnership.

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Dubai has surpassed other cities worldwide to become the preferred FDI destination for Indian investors. In 2022, India accounted for 12 percent of the announced FDI projects in Dubai, placing it third behind the United States (20 percent) and the United Kingdom (13 percent). With a significant increase in FDI projects from 78 in 2021 to 142 in 2022, Indias confidence in Dubais potential is evident.