India’s growing defence production is transforming its status as the world’s second-largest arms importer. According to the Economic Survey 2024, defence production in India surged from Rs 74,054 crore in FY17 to Rs 108,684 crore in FY23, significantly boosting defence exports. Between 2015 and 2019, India was primarily known for its arms imports, but it has now secured a position among the top 25 arms-exporting nations.
The survey credits this shift to the combined efforts of private sectors and Defence Public Sector Undertakings (DPSUs), leading to record-high defence exports. The number of export authorizations for defence exporters has also risen, with 1,414 issued in FY23 and 1,507 in FY24. Around 100 domestic companies are now exporting a variety of defence products, including aircraft like the Dornier-228, artillery guns, BrahMos missiles, Pinaka rockets and launchers, radars, simulators, and armoured vehicles. Government initiatives have simplified export procedures, reducing delays and making the process more industry-friendly. The Aatmanirbhar Bharat initiatives have further promoted indigenous design, development, and manufacture of defence equipment, aiming to reduce long-term dependence on imports.
Despite these strides toward self-reliance, India remains the largest arms importer. The Stockholm International Peace Research Institute (SIPRI) reported in March 2024 that India’s arms imports increased by 4.7 percent between 2014-18 and 2019-23. Russia continues to be India’s primary arms supplier, accounting for 36 percent of its imports, although this period marks the first time since 1960-64 that deliveries from Russia constituted less than half of India’s arms imports.
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