Vibrant Gujarat Global Summit: Defence exports set to cross Rs 10,000 cr by March, says Ajay Kumar

India's defence export is likely to cross Rs 10,000 crore by March this year, said Secretary of Defence Production Ajay Kumar at the Vibrant Gujarat Global Summit. Kumar was speaking at a seminar on 'Opportunities for Defence and Aeronautics in Gujarat' held on Friday.

"Indian defence production sector has been largely dominated by the public sector. For the first time, the government, policymakers, industry and the forces are looking to enhance participation of the defence sector. Can we follow the footsteps of China, which was once an importer but instead became the third largest exporter of arms and ammunition?", he asked.

Sharing some figures, he said, "Indian industry has been doubling the defence exports from the country in the last three years. Three years ago, total exports from India was only about 1500 crores. Last year figure reached 4500 crores and this year by March we will cross 10,000 crores. I do not think we have sold equipment worth 10,000 crores to Indian industries but have already exported globally."

Apart from defence exports, the government has made some reforms by making entry into defence much more simpler. Nearly two-thirds of the items have been made licence-free. Anecdotally 20000 crores of aero-components are exported from India to the world. India sells to Boeing, Airbus, all major companies. There is a big opportunity for export. Real big players whether it is in the US, Israel, Russia are big not because they sell to domestic companies but more than 70% of their market is through exports."