Indian defense exports have grown nearly six times from Rs 1,500 crore to Rs 9,000 crore in the last five years, with Private Sector 90 per cent, the Defense Ministry has told a parliamentary panel.
According to the ministry, these exports are going to roughly 84 countries.
The 2020 report of Stockholm International Peace Research Institute (SIPRI) states that India is in the list of top 25 countries in defense exports. Ministry of Defence One is also working on a defense production and export promotion policy, which is learned to be in its final stages.
As reported by News18 in December, there is a massive push by the government towards indigenously manufacturing defense equipment and platforms and curbing all imports in the near future.
Value of exports (HSL) by Defense Public Sector Undertakings (DPSUs) like Mazagon Dock Shipbuilders Limited (MDL), Goa Shipyard Limited (GSL) and Hindustan Shipyard Limited, according to a report of the Standing Committee on Defense tabled in Parliament on Wednesday. ) was ‘nil’ for the financial year 2020-21.
However, the value of exports stood at Rs 376.46 crore, Rs 194 crore, Rs 463 crore (including deemed exports), Rs 87.49 crore in case of others like BEL, HAL, BEML, GRSE, BDL and MIDHANI in the financial year 2020-21. crore, Rs 145 crore and Rs 19.42 crore, respectively.
HAL is looking to export the upgraded Light Helicopter Mark III to the Philippines and the Tejas Light Combat Aircraft to Malaysia.
The DPSU had also furnished the details about various export orders received to the panel and those which are in the pipeline.
With a focus on bringing in valuable foreign exchange in defense exports and making the indigenous defense industry more competitive, the panel urged the Ministry to assist DPSUs in increasing their exports.
“The Committee expresses the hope that the BrahMos deal, which is the first major defense systems export deal between India and the Philippines, will be a forerunner in defense exports,” the committee said in the report.
The panel recommended that development of state-of-the-art equipment and platforms, apart from timely completion and delivery, should ensure excellent quality of products, platforms and equipment and be adhered to by DPSUs.
This is to ensure that DPSUs establish and emerge as a competitive and reliable destination of defense products.
The panel recommended that the DPSUs should examine the feasibility of creating a separate wing in each of them, completely dedicated to the attainment of these objectives.
The report also details the profits recorded by DPSUs in the last five years. Among them, HAL made the highest profit of Rs 3,232.96 crore in 2020-21, while only HSL suffered a loss of Rs 14 crore due to lack of orders for submarine repairs.
The data also shows that out of the total production of Rs 85,000 crore by the defense industry of the country, the contribution of the public sector is Rs 68,000 crore.
read all breaking news , today’s fresh news And Ukraine-Russia War Live Updates Here.