Indian Defence Exports Witness Record Growth

The figure published in an online ‘dashboard’ by the Ministry of Defense’s Department of Defence Production (DDP) on April 14, 2020 represents a five-fold increase over the value of export approvals secured by the MoD just a few years ago. The data shows that India registered record-high defence export approvals worth INR 86.2 billion (USD1.1 billion) in fiscal year (FY) 2019–20, which concluded at the end of March. The dashboard, which was updated with the new figures on April 14, shows that the value of defence export approvals in FY 2019–20 was INR 8620.59 crore, a year-on-year increase of 4%, compared with the INR 8320.09 crore recorded in FY 2018–19, which represented a 78% increase over the INR 4682.36 crore in approvals registered in FY 2017–18. The value of export approvals in FY 2016–17 was INR 1521.86 crore billion.Read More…