India's defence exports reached a record high of Rs 13,000 crore in the fiscal year 2021–2022, with the private sector playing a significant role in the production of both manned and unmanned aircraft. Defence Secretary Kumar stated that in 2021–2022, the entire amount of defence exports is Rs 13,000 crore.
The growth in exports, according to Sanjay Jaju, additional secretary in the Department of Defense Production, was "eight times" what it was just five years ago. When asked what the export split was between publicly traded defence PSUs and private businesses, Kumar responded that it had previously been 10:90 but is now 30:70.
Huge boost from the Private sector
According to sources, the approximately Rs 2,500 crore BrahMos missile contract between India and the Philippines is what caused the increase in the defence PSU contribution from 10% to 30%. The aerospace industry accounts for the majority of the nation's defence exports, with Indian businesses producing a variety of components for international industries, including fuselages.
For instance, a joint venture between Boeing and Tata produces all of the Apache attack helicopter's fuselages in India for global sales. Similarly, companies like Adani Defence and Lohia Group are making fuselages for several Israeli drones.
Although India signed the well-known BrahMos agreement with the Philippines this year, Myanmar has benefited most from India's defence exports over the previous five years. Approximately 50% of India's defence exports from 2017 to 2021 went to Myanmar, followed by Sri Lanka at 25% and Armenia at 11%, according to statistics on trends from the Stockholm International Peace Research Institute.
The Narendra Modi administration set a goal of Rs 35,000 crore ($ 5 billion) in aerospace and defence exports during the following five years in 2020. This is a portion of the government's goal to reach Rs. 1.75 lakh crore ($25 billion) in defence manufacturing sales by 2025.