Defenec exports at all time high but Aatm-nirbharta still a distant dream, India remains largest importer
New Delhi: India’s defence exports in the just finished financial year 2023-24 reached an all time high of ₹21,083 crore, and the Government has hailed it as spectacular growth. Defence Minister Rajnath Singh said the defence ministry took a series of initiatives to spur India’s defence manufacturing and exports. According to the latest figures issued by the ministry, there was 32.5% growth in FY24 compared to previous financial year.
It also said, that there has been a rise in the number of export authorisations issued to the defence exporters during FY 2023-24. From 1,414 export authorisations in FY 2022-23, the number jumped to 1,507 in FY 2023-24.
However, this is just one side of the coin, as there are various reports that claim that India is still the biggest importer of arms and ammunition across the globe.
In the recent report titled Military Balance 2024, International Institute of Strategic Studies said that the overall capability of India’s large conventional forces is limited by inadequate logistics and maintenance, and shortages of ammunition, spare parts and maintenance personnel. It said that the process of modernisation projects have seen delays and cost overruns.
“The government’s ‘Make in India’ policy aims to strengthen the defence-industrial base, is making slow progress,” it further said.
Likewise, Stockholm-based defence think-tank SIPRI in its latest report has revealed that India remains the world’s top arms importer.
In fact, as per the Swedish think tank, India was the world’s top arms importer for the period 2019-23 with imports having gone up by 4.7% compared to the period 2014-18.
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