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SOURCE: AFI

In a remarkable testament to India’s growing prowess in defense manufacturing and exports, the fiscal year 2023-24 has seen the United States, France, and Armenia emerge as the top three destinations for Indian military hardware. This development marks a significant milestone in India’s journey towards self-reliance in defense and showcases the country’s expanding influence in the global defense market.

India’s defense exports hit an all-time high, reaching ?21,083 crore ($2.6 billion) for the fiscal year 2023-24. This figure represents a substantial increase from previous years, underlining the success of initiatives like “Make in India” and “Aatmanirbharta” (self-reliance), which have been pivotal in boosting domestic production and export capabilities.

The U.S. has become a key buyer of Indian defense products, particularly focusing on sub-systems and components. Major companies like Boeing and Lockheed Martin have increasingly sourced fuselage, wings, and other parts for their aircraft and helicopters from Indian manufacturers, highlighting a strategic partnership in defense manufacturing.

France has been acquiring significant quantities of software and electronic equipment from India. This partnership not only strengthens bilateral defense ties but also reflects France’s interest in India’s technological advancements in defense electronics.

Perhaps the most notable shift has been with Armenia, which has become India’s largest customer for “finished” weapon systems. Over the last four years, Armenia has signed multiple deals for advanced military hardware, including Akash air defense missile systems, Pinaka multi-launch rocket systems, and 155mm artillery guns. The relationship has deepened, particularly during Armenia’s conflicts with Azerbaijan, highlighting India’s role as a strategic defense partner in the region.

Indian defense companies, both public and private, have been exporting a diverse array of products, from missiles and radars to armoured vehicles and aircraft like the Dornier-228. This diversification not only caters to different operational needs but also establishes India as a versatile exporter in the global defense industry.

The surge in exports is a result of concerted efforts by the Indian government to streamline defense production, increase private sector involvement, and ease export regulations. With 16 defense public sector undertakings, over 430 licensed manufacturers, and approximately 16,000 micro, small, and medium enterprises (MSMEs) involved, India’s defense industrial base has seen a threefold increase in production value since 2014-15.

Looking ahead, the Indian government has set ambitious targets to enhance defense production and exports further. With defense production touching ?1.2 lakh crore in 2023-24, the goal is to reach ?3 lakh crore by 2028-29, alongside arms exports of ?50,000 crore. These targets reflect India’s intent to not only meet domestic defense needs but also to become a significant player in the international defense market.

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