Enter your email to read this article
Read news on any topic, in one place, from publishers like The Economist, FT, Bloomberg and more.

India sees 334% jump in defence exports in last five years

Indian exports have grown by 334 per cent in last five year, informed government.

The government's nodal agency, Press Information Bureau (PIB) tweeted, "The Indian Defence sector, the second largest armed force is at the cusp of revolution."

Also Read: Defence import bans linked to domestic manufacturing 

It also informed about the rise in defence exports and India's trade with 75 countries. In its tweet, PIB also mentioned some of the milestones achieved by India's defence sector. In the last five years, India also witnessed the commissioning of its first indigenous aircraft carrier INS Vikrant in Kochi.

The PIB India Twitter handle also shared some data in a poster attached with the tweet to underline the indigenisation and boost of production in the defence sector.

Also Read: Rajnath Singh harps on Indian Army's capability to give ‘befitting reply’. Here's why

Apart from increasing maritime capability, India has also made some significant achievements in its air capabilities. PIB's tweet highlighted this by mentioning the indigenous Advanced Light Helicopter Mk-III's squadron that was commissioned recently. The Mk-III helicopter squadron was commissioned into the Indian Coastguard. The post also reminded people about the successful testing of the new generation nuclear-capable ballistic missile 'Agni P'.

Also Read: Defence Ministry signs a deal for dual role Surface-to-Surface BrahMos missile

As of now, the Indian Coast Guard has inducted thirteen ALH MK III aircraft. Four of ALH MK III are placed at Porbandar. The squadron has flown for more than 1200 hours since its induction and also completed numerous operations including the night SAR mission off the Diu coast.

Defence Secretary Ajay Kumar, during an interaction with PTI on Thursday, talked about the central government's efforts to "unleash the energy" of the Make-in-India initiative as a whole in the defence sector. Sharing his vision for the country's Amrit Kaal, he mentioned efforts that are being done to bring India among the top five countries globally in defence production.

He highlighted the trend that had prevailed for the last 75 years. Since the beginning, India has continued to be one of the largest importers of defence products in the world. He expressed the need to reverse this trend and make India a top exporter of defence products across the world.

With inputs from PTI

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Post your comment
Related Stories
With depleting fighter strength, Indian Air Force looks to speed up Su-30 fleet modernisation
Efforts on to undertake most of the upgrades within the country, defence official says
From analysis to the latest developments in health, read the most diverse news in one place.
President Murmu inaugurates HAL’s rocket engine manufacturing facility
New Delhi: President of India, Droupadi Murmu on Tuesday inaugurated the Integrated Cryogenic Engine Manufacturing Facility of Hindustan Aeronautics Limited (HAL) in Bengaluru
Rajnath Singh harps on Indian Army's capability to give ‘befitting reply’. Here's why
Defence Minister Rajnath Singh asserted that the Indian Army has the capability to give a befitting reply to any power looking at the country with evil intentions
Amrit Kaal vision to see India among top five countries in defence production: Defence Secretary Ajay Kumar
Defence Secretary Ajay Kumar also said that in the last 75 years, India has continued to be one of the largest importers of defence products in the world, and this is the situation the government wishes to change.
India capable of meeting global requirement of military equipment: Defence Minister
Security needs of the world are set to increase. India is capable of meeting those needs, both in terms of quality and cost-effectiveness
One place to find news on any topic, from hundreds of sites.
President Droupadi Murmu to inaugurate ₹208-crore rocket engine manufacturing facility in Bengaluru
HAL has set up a ₹208 crore rocket engine manufacturing facility that will serve the ISRO.