New Delhi: Defense Secretary Ajay Kumar on Friday said India’s defense exports have touched a record Rs 13,000 crore in the 2021-2022 financial year, with the private sector playing a key role in aerospace manufacturing – both unmanned and unmanned aircraft.
Speaking to a group of journalists in South Block, Defense Secretary Kumar said, “Total defense exports in 2021-2022 are Rs 13,000 crore.”
Sanjay Jaju, Additional Secretary, Department of Defense Production, said the growth in exports was “eight times” compared to almost five years ago.
Asked what is the ratio of exports between state-owned defense public sector undertakings (PSUs) and private firms, Kumar said it was earlier at 10:90, currently it is 30:70.
Exports worth Rs 35,000 crore in next five years
Sources said the reason for increasing the stake of defense public sector undertakings from 10 per cent to 30 per cent is approx. Rs 2,500 crore deal Which India had built with the Philippines for the BrahMos missiles.
Sources also said that most of the country’s defense exports are in the aerospace sector, where Indian companies are manufacturing parts, including the fuselage, for foreign companies.
For example, all torso The American attack helicopter Apache, sold around the world, is now made in India by a joint venture between Boeing and Tata. Similarly, companies like Adani Defense and Lohia Group are building the fuselage for many israeli drone,
While India signed the high-profile BrahMos deal This year along with the Philippines, has been the biggest beneficiary of India’s defense exports in the last five years. myanmar,
According to data from Stockholm International Peace Research Institute’s international arms transfer trends, Myanmar accounted for nearly 50 percent of India’s defense exports from 2017 to 2021, followed by Sri Lanka at 25 percent and Armenia at 11 percent.
Narendra Modi government had set a target in 2020 Rs 35,000 crore exports ($5 billion) in aerospace, and defense goods and services over the next five years. This is part of the Rs 1.75 lakh crore ($25 billion) business in defense manufacturing that the government is aiming to achieve by 2025.
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