India’s Defense Products Worth Rs. 21,000 Cr. Exports To Top Countries
India’s Defense | Hyderabad, Jan 27 (Maxim News): India which used to go around other countries for defense products, has now grown to the point of exporting them only to top countries. This is considered a very interesting change by industry groups. It exported defense products worth Rs. 21,000 crore in one financial year alone. This is 32.5 percent more than in 2022-23.
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Public sector enterprises account for about 75 percent of our country’s defense exports, while the rest is done by private companies. It seems that the share of private companies in the production and exports of defense equipment will increase significantly in the coming years. Companies operating in Hyderabad will play an active role in this.
By 2029, the government aims to export defense equipment worth Rs. 50,000 crores. It is interesting to note that the US, France, and Armenia are among the top buyers of defense products and weapons from our country. American companies are buying systems, sub-systems, and spare parts, Armenia is buying Akash Air Defence Missile Systems, Pinaka Multi-launch Rocket Systems, and 155 mm artillery guns from our country.
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India’s Defense Products
We are providing interceptor boats to the Vietnamese Coast Guard. Vietnam is interested in purchasing Brahmos supersonic missiles. Countries like Malaysia and Brazil are interested in Tejas fighter jets.
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Currently, our country is exporting defense products to more than 100 countries. Due to high orders, domestic defense production has increased significantly in recent years. About 16 public sector defense organizations, more than 430 private sector companies, and 16,000 MSMEs are engaged in the defense products sector. (Maxim News)
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