Indian Defence exports clock Rs 12,815 cr in FY22

ENA Sectors 2022-12-20 08:14:23 New Delhi, Dec 20 (KNN) The export value of Indias defence sector clocked at Rs 12,815 crore in the fiscal year of 2021-22 based on the value of Export Authorization issued by Department of Defence Production (DDP) to private companies and actual export/contract done by Defence Public Sector Undertakings (DPSUs) / Ordnance Factory Board (OFB). <a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a> For the current financial year the export value of defence has reached Rs 6,058 crore till date. Sharing the status of country's defence exports, Union Minister of State for Defence Ajay Bhatt on Monday in a written reply to Sujeet Kumar in Rajya Sabha said that at present, the exports are being made to more than 75 countries all over the world. However names of the countries cannot be revealed due to strategic reasons. DDP issues authorisation for export of Munitions List items covered in Category 6 of Special Chemicals, Organisms, Materials, Equipment and Technologies (SCOMET). The export value in 2019-20 was at Rs 9,116 crore and Rs 8,435 crore in 2020-21. He further highlighted several policy initiatives taken by the government in the past few years and brought in reforms to encourage indigenous design, development and manufacture of defence equipment, thereby promoting self-reliance in defence manufacturing & technology in the country. The government has brought in various reforms including ease of doing business to achieve the target of USD 5 billion for defence exports by 2024-25 and to boost Defence exports. (KNN Bureau) 31623 https://knnindia.co.in/news/newsdetails/sectors/indian-defence-exports-clock-rs-12815-cr-in-fy22 2022-12-20 08:14:23 knnindia.co.in Indian Defence exports clock Rs 12,815 cr in FY22