New Delhi, 30th May 2023: The Indian defence exports have reached an all-time high worth over INR 16,000 crore in 2022-2023.
This marks a significant increase from the Rs. 686 crore that the country recorded in 2013-2014. The authorities at the government released the data and added that the country now exports defence materials to more than 85 countries and that 100 Indian agencies are engaged in the industry.
The government has passed numerous policy initiatives and reforms, with mainly the entire process being much more simplified and made industry-friendly with end-to-end online export authorisations and curtailing delays as a few of the initiatives.
Experts further emphasise that the Atmanirbhar Bharat initiatives have helped further to expand the reach of the Indian manufacturing industry and helped to reduce dependency on imports in the long run.
