Indian Economy News

India defence exports at record ₹13,000 crore, US biggest importer

  • IBEF
  • July 11, 2022

According to the top defence ministry, India exported defence equipment and technology worth a record Rs. 13,000 crore (US$ 1.63 billion) in 2021-22, representing a 54.1% increase over the previous year. He also noted that the private sector supplied 70% and the governmental sector contributed 30% of defence exports. India's defence exports are mostly to the United States, the Philippines, and other South-East Asian, Middle-East, and African countries.

Additional Secretary in the Department of Defence Production (DDP) Mr. Sanjay Jaju stated that exports in 2021-22 will be about eight times what they were five years ago. In 2020-21, India's defence exports were valued Rs. 8,434 crore (US$ 1.06 billion), Rs. 9,115 crore (US$ 1.14 billion) in 2019-20, and Rs. 2,059 crore (US$ 259.49 million) in 2015-16.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.