India’s Defence Ministry says the country’s defence output has grown by more than 12 percent in the last fiscal year and crossed the $12 billion mark for the first time.
According to the British news agency Reuters, India is trying to reduce its dependence on imports from other countries, including Russia.
India, the world’s largest arms importer in the last decade, depends on Russia for half of its defence equipment, but after the war in Ukraine, Russia is facing an obstacle in the delivery of its defence equipment.
India’s domestic defence production in the year ended March 31 reached Rs 1.07 trillion and is expected to rise further after data from some private defence companies comes in, the defence ministry said in a statement. ‘
“The government is continuously working with the defence industries and their associations to address the challenges faced by them and promote defence production in the country,” the statement said.
According to the Ministry of Defence, the number of defence industry licences issued has almost tripled in recent years.
According to government data, India’s defence exports have also increased, rising by 24 percent to about Rs 160 billion in the last fiscal year.
India exports Dornier-228 aircraft, artillery guns, BrahMos missiles, radars, armoured vehicles, rockets and launchers, ammunition, and other equipment developed under a joint venture with Russia.