13 July 2022

Indian defence exports jump 51%, MoD data show

by Jon Grevatt

Indian defence exports reached a record high in fiscal year 2021–22, according to the Indian MoD. (Indian MoD/Janes)

In fiscal year (FY) 2021–22 India reached a new milestone of nearly INR130 billion (USD1.6 billion) in defence exports, new Indian government statistics show.

An updated online dashboard run by the Ministry of Defence's (MoD's) Department of Defence Production (DDP) shows that the value of defence exports jumped year-on-year by 51% in 2021–22 to INR128.08 billion.

The MoD data shows that Indian defence exports were dampened by the Covid-19 pandemic in 2020 and 2021. However, growth in FY 2021–22 resumes the expansion in defence exports that India achieved between 2016 and 2019.

The rise in FY 2021–22 also underscores capability developments achieved by India's private sector. During the year, 46% of exports (worth INR59.6 billion) were attributed to ‘export authorisations' provided to such firms by the government.

During the first quarter of FY 2022–23, the value of export authorisations provided to the private sector was INR11 billion.

For state-owned enterprises (SOEs) – such as Hindustan Aeronautics (HAL) and Bharat Electronics – the value of defence exports continues to decline, according to the figures.

In 2021–22 the defence SOEs achieved INR3.9 billion in defence exports. In 2020–21 the figure was INR9.84 billion and in 2017–18 it was INR15.19 billion.

In 2021–22 the MoD data attributed INR65.56 billion to a new category called ‘contract value', indicating concluded deals. A breakdown of ‘contract value' statistics was not provided by the MoD, but officials have indicated in comments to local media that the vast majority in this category is also sourced from the private sector.

In fiscal year (FY) 2021–22 India reached a new milestone of nearly INR130 billion (USD1.6 billion) ...

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