With collaborative efforts of entities from all over the world, the defence exports have grown by 334% in the last five years and India now is exporting to more than 75 countries, Defence Minister Rajnath Singh said on Monday appreciating the efforts of the industry and thanking the foreign aerospace and defence companies for investing in the sector.
The value of exports in 2016-17 was recorded at ₹1,521.91 crore while it went up to ₹ ₹4,682.36 crore in 2017-18 and ₹10,7465.77 crore in 2018-19. The value of defence exports was ₹9,115.55 crore in 2019-20 and ₹8434.84 crores in 2020-21, according to a source.
“Our export performance is a strong indicator of the quality and competitiveness of our products,” Mr. Singh said at the Ambassadors’ Round Table for DefExpo 2022 which saw the participation of more than 200 delegates, including Ambassadors, Heads of Missions and Defence Attaches.
The Round Table was aimed at briefing the Ambassadors about the planning, arrangements and other details of DefExpo 2022, which will be held in Gandhinagar, Gujarat, between March 10-13, the Defence Ministry said.
IMr. Singh expressed confidence that DefExpo-2022 will sow the seeds of successful new ventures and international partnerships to promote shared prosperity, boost investment, expand manufacturing and bolster aerospace and defence ecosystem, which shall be ready to serve the defence requirements of our friendly countries also. “Resurgent India, where defence manufacturing is an identified pillar of growth, will display its ability to take lead at DefExpo 2022.”
Mr. Singh said the aerospace and defence manufacturing sector is ready to soar to newer heights and has the potential for research and development in space, cyberspace, futuristic capabilities and disruptive technologies such as Artificial Intelligence, blockchain, Virtual Reality, 3D printing, digital frontier and Internet of military things.