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Indian Defence exports reach an all time high breaching Rs 16000 crore mark with a 23-fold increase in FY 22-23

“With a 23-fold increase in exports, Indian design and development capabilities are reaching over 85 countries,” the Defence Ministry announced.

Looking to expand the Make in India in defence sector, India’s defence exports have skyrocketed to an all-time high, touching nearly the Rs 16,000 cr mark in FY 2022-23, Defence Ministry said on Friday. 

“With a 23-fold increase in exports, Indian design and development capabilities are reaching over 85 countries,” the Defence Ministry announced.

The Indian indigenous defence industry has achieved the success in expanding exports with sale of major defence systems including the BrahMos supersonic cruise missiles, Akash air defence systems and artillery guns to a friendly country.

The Indian export strategy includes identifying newer markets for countries who are friendly and are looking at long lasting relationship for military hardware.

The Indian industry is now competing with global firms for exporting their military hardware and have been in competition in multiple countries including South East Aisa and Africa.

(This news report is published from a syndicated feed. Except for the headline, the content has not been written or edited by OpIndia staff)

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