India now among top 25 arms exporting nations

NEW DELHI: India’s rising production of defence equipment and systems is changing its narrative as the world’s second-largest arms importer. The Economic Survey 2024 highlights that India’s defence production grew substantially from Rs 74,054 crore in FY17 to Rs 108,684 crore in FY23, boosting defence exports.

Between 2015 and 2019, India was known as the world’s second-largest arms importer. However, the narrative has shifted, as detailed in the Economic Survey. It states, “India has transitioned from being an arms importer to securing a place in the list of the top 25 arms-exporting nations.”

The survey credits the defence industry’s efforts, including those of private sectors and Defence Public Sector Undertakings (DPSUs), for achieving the highest-ever defence exports. Additionally, there has been a rise in the number of export authorizations issued to defence exporters.