Highlight
- India records highest ever defense exports of Rs 13,000 crore
- This was an impressive 54.1 percent increase over the previous year.
- Exports in 2021-22 were almost eight times what they were five years ago
A top Defense Ministry official said on Friday that India exported defense goods and technology worth a record Rs 13,000 crore in 2021-22, a 54.1 per cent increase over the previous year. The country’s defense exports are mainly to the US, the Philippines and other countries in South-East Asia, the Middle East and Africa. Exports in 2021-22 were almost eight times what they were five years ago.
India’s defense exports over the years
2020-21 – Rs 8,434 crore
2019-20 – Rs 9,115 crore
2015-16 – Rs 2,059 crore
He said that in an event titled “Artificial Intelligence in Defense” on Monday, the Defense Ministry will reward a private sector organization and another public sector organization, which has performed best in defense exports. He said that generally the private sector companies dominate the defense export market with a share of around 90 per cent. He said last year Indian public sector companies also contributed a good 30 per cent to the country’s defense exports.
Read also | DRDO conducted the first successful flight of the Autonomous Flying Wing Technology Demonstrator. watch
Read also | DRDO, Army successfully test-fired indigenous ATGM missile from Karakoram range. watch