Indian defence exports climbed to about INR107.45 billion (USD1.5 billion) in fiscal year (FY) 2018-19, according to media reports in the country citing the Indian Ministry of Defence’s (MoD’s) annual report for the year.
The new export figure, which is based on defence export “authorisations”, is more than double the value of India’s international defence sales in 2017-18 and seven times the value of such exports in 2016-17. India’s defence exports for these two fiscal years were INR46.82 billion and INR15.21 billion respectively.
MoD annual reports for previous years also show that defence exports in 2015-16 reached INR20.59 billion and exports in 2014-15 were INR19.41 billion.
Want to read more? For analysis on this article and access to all our insight content, please enquire about our subscription options at ihsmarkit.com/janes