New Delhi – India’s efforts to be self-reliant in defence matters are getting successful. In the financial year 2021-22, the export in defence field has crossed more than Rs. 13,000/- crores which are 54.1% more, compared to the export during the financial year 2020-21. Out of this export, 70% came from the private sector while 30% was from Government companies. Considering the last five years’ statistics, the export rate has increased by 8%.
India’s defence exports at record Rs 13,000 crore, 70% from private sector
The arms exports in 2021-22 were almost eight times of what they were about five years back.https://t.co/yFeoDjrs3C
— The Times Of India (@timesofindia) July 9, 2022
The information given by the Department of Defence Production under Ministry of Defence, the export was mainly to the countries like the USA, the Philippines, other countries from south-east Asia, and countries in the central-east and African continent. India has entered into a contract worth Rs. 2770 crores with the Philippines to supply the supersonic missiles ‘BrahMos’.
Importance of ‘BrahMos’ missiles
BrahMos missiles can be launched from a submarine, warship, and fighter planes. Its speed is three times faster than the speed of sound and its range is 290 km.