The data states total defence export value stands at Rs.13,000 crores or $1.5 billion as of 6 March, 2023. India has an ambitious target of achieving $5 billion in annual defence export by 2024-25.

In alignment with India's ambitious goal to significantly accelerate the production of defence equipment indigenously, the defence export in the country as per latest data has crossed Rs 13000 crores or $1.5 billion.

On 13 March, Minister of State for Defence in a written reply to Rajya Sabha member Tiruchi Siva said, the Indian government has given focus on indigenisation of various defence items to achieve ‘Aatmanirbharta’ (self-reliance).

The data states total defence export value stands at Rs. 13,399 crores as of 6 March, 2023. For 2021-22, the data stood at Rs. 12,815 crores while for 2020-21 it was Rs 8,435 crores.

India presently exports defence supplies to over 80 countries, name of those cannot be divulged due to strategic reasons, as per a government release.

"The major defence equipment exported during last 05 years include Weapon Simulators, Tear Gas Launcher, Torpedo Loading Mechanism, Alarm Monitoring & Control, Night Vision Monocular & Binocular, Light Weight Torpedo & Fire Control Systems, Armoured Protection Vehicle, Weapons Locating Radar, HF Radio, Coastal Surveillance Radar etc," the release added.

In recent years, the Indian government has taken various steps to improve defence products and make them competitive globally. The push for Made-in-India equipment is a priority for Indian government as it strengthens and promotes the nation's self-reliance in the defence sector.

The indigenised equipment are made from locally available resources. They become globally cost competitive and it also facilitates integration of Ministry of Micro, Small and Medium Enterprises (MSMEs) in global supply chain.

In a separate press release, Indian government stated that India has reduced its dependency on defence imports. "The expenditure on defence procurement from foreign sources has reduced from 46% of overall expenditure in 2018-19 to 36.7% as per data till December 2022," it said.

India has an ambitious target of achieving $5 billion in annual defence export by 2024-25. As per reports, India is currently in talks with various countries to export several of its indigenous supplies such as Light Combat Aircraft Tejas and the BrahMos supersonic cruise missiles.