India has delivered BrahMos Missiles to the Philippines, fulfilling a USD 375 million agreement made in 2022, marking a significant milestone in India’s expanding defence exports.
India’s Expanding Defence Export Markets:
- India exported two Dornier 228 aircraft to Guyana, marking its first major defence export to a Caribbean nation.
- India now exports military hardware to 85 countries, showing a wide global reach.
Record Growth in Defence Exports
- Defence exports in FY 2023-24 hit a record Rs. 21,083 crore (approx. US$ 2.63 billion). This reflects a 32.5% increase from the previous fiscal year.
- India’s defence exports have surged 31 times over the last decade, a remarkable growth from FY 2013-14.
- Export authorisations increased from 1,414 in FY 2022-23 to 1,507 in FY 2023-24, indicating an expanding approval process for defence exports.
Contributions from Both Public and Private Sectors
- About 60% of defence exports come from the private sector, while the public sector contributes around 40%.
- The export products include missiles, artillery guns, rockets, and armoured vehicles.
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