What is India's target in arms exports?
According to the report, india has orders worth about Rs 21,000 crore for export of military weapons. India's government and private sector companies are exporting weapons to about 100 countries.
India has taken several proactive steps to boost defense exports in the last few years. The country's annual defense production reached around Rs 1.27 trillion in FY 2024, an increase of 16.7 percent compared to Rs 1.09 trillion last year. This is a good sign, as it shows that india has made progress in its defense production targets.
India aims to achieve an annual defense production of Rs 3 trillion by FY 2029, and so far it has achieved more than 40 percent of this target.
Expansion of defense industry
India's defense industry has expanded rapidly in the last few years. There are 16 defense public sector companies, and in addition there are 430 licensed companies and 16,000 small and medium enterprises. Since FY 2015, the value of production has increased almost threefold. The private sector also contributes 21 percent to this.
Future prospects
This is a very important time for india as it is trying to further increase its defense exports. In the coming years, india can increase defense cooperation with more countries, which will be beneficial for its strategic goals.
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