16000 MSMEs Propel India’s Defence Exports To 100 Countries; US, France, Armenia Top Buyers

ENA Global 2024-10-28 14:18:04 New Delhi, Oct 28 (KNN) Indias defence exports have reached new heights, with the United States, France, and Armenia emerging as the top three customers for Indian military equipment in the last fiscal year, according to official sources. This achievement aligns with the governments strategic push to promote indigenous manufacturing and expand exports to global markets. India is currently exporting military equipment to over 100 countries worldwide, and the U.S., France, and Armenia were the top buyers in the previous financial year, officials said. Indian exports to the U.S. include a large volume of aircraft and helicopter components, produced for global defence companies like Lockheed Martin and Boeing. Exports to France focus on software and high-end electronic systems, reinforcing Indias growing reputation in the tech-driven defence space. Armenia has been supplied with ATAGS artillery guns, Pinaka multi-barrel rocket launchers, Swathi weapon-locating radars, and other key defence systems, marking a new phase in Indias military partnerships. The Defence Ministry has been actively encouraging both public and private sector contributions to achieve self-reliance in military production. Official sources reported that Indias defence production value soared to Rs 1.27 lakh crore in 2023-24, nearly three times the Rs 46,429 crore recorded in 2014-15. Currently, Indias Defence Industrial Base includes 16 public sector units, 430 licensed private firms, and more than 16,000 MSMEs. The private sector now accounts for 21 per cent of the countrys total defence production, underscoring its growing role in this critical industry. Some of the major defence platforms produced within India include the LCA Tejas fighter jets, Arjun Main Battle Tanks (MBTs), Dhanush artillery systems, Akash missile systems, and various aircraft carriers and warships. India has also achieved success in producing submarines, high-mobility vehicles, weapon-locating radars, and advanced tactical control systems. In a related development, Hindustan Aeronautics Limited (HAL) delivered the first AL-31FP aero engine to the Indian Air Force for use in the Su-30MKI fighter jets, reflecting significant progress in high-end manufacturing. Adding momentum to Indias defence aspirations, Germany has granted India special status for military purchase approvals. This move is expected to streamline technology transfers and procurement processes between the two countries, enhancing bilateral defence cooperation. Indias growing defence export strategy not only boosts the countrys global presence but also strengthens domestic capabilities. As it continues to scale up production and deepen international partnerships, India is steadily positioning itself as a leading military supplier on the world stage. (KNN Bureau) 39727 https://knnindia.co.in/news/newsdetails/global/16000-msmes-propel-indias-defence-exports-to-100-countries-us-france-armenia-top-buyers 2024-10-28 14:18:04 knnindia.co.in 16000 MSMEs Propel India’s Defence Exports To 100 Countries; US, France, Armenia Top Buyers