India Defence Exports: India has witnessed defence exports increase significantly over the last few years, and the government has set a lofty goal of Rs 35,000 crore by FY25. Even though the country earned Rs 21,000 crore in FY24, questions remain on whether this development trajectory can be sustained.
The urgent demands of nations facing geopolitical crises, such as Ukraine and Armenia, can be largely linked to the recent export boom. Although the domestic defense industry has benefited greatly from these orders, analysts warn that relying too much on such short-term demands could impede long-term growth potential.
India must obtain a consistent flow of sizeable orders for several defence systems in order to maintain and build on the momentum. In light of this, the government changed the export goal to Rs 50,000 crore by FY29. It will take a concentrated effort to create and promote a wide variety of competitive defense goods and services in order to meet this lofty objective.
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Industry participants stress the value of concentrating on forging long-term alliances with friendly countries and investigating untapped markets. To establish India as a worldwide hub for weapons production, research and development investments and policy reforms aimed at streamlining the export process are also essential.
