Indian Defense Sector Rises In Export Giving Boost To Aatmanirbhar Bharat Private Companies Outdone Public Sector Players News

Bollywood

[ad_1]

hear the news

India’s efforts to become self-reliant in the defense sector are constantly getting wings. Especially in the matter of developing domestic technology and taking it to the world, the defense sector of the country is continuously progressing. Meanwhile, the figures of defense exports for the financial year 2021-22 are also telling the story of efforts to become self-reliant in the defense sector. During this one year, India touched the figure of 13 thousand crore rupees in the defense export sector. This is an increase of 54.1 percent as compared to the financial year 2020-21.

However, a surprising thing is that the private sector accounts for 70 percent of the total exports, while only 30 percent of the exports could be done by the public sector companies. According to Sanjay Jaju, Additional Secretary, Department of Defense Production, the country’s defense exports are mainly to the countries of America, Philippines, South East Asia, Middle East and Africa. India’s defense export in 2020-21 was Rs 8 thousand 434 crore, while in 2019-20 it reached Rs 9 thousand 115 crore.

India’s defense exports stood at just Rs 2059 crore in the financial year 2015-16. On the other hand, the last two years were lethargic due to Kovid, but this time we have made good progress. India has increased defense exports by eight times in FY 2021-22 as compared to five years ago.

Sanjay Jaju said, private sector companies have performed well by exporting around 70 per cent. It is worth noting that in January this year, India had signed a deal worth $ 375 million (about Rs 2770 crore) with the Philippines. Under this, India has signed an agreement to supply BrahMos supersonic missiles to the Philippines. Defense Minister Rajnath Singh will present awards to a private sector company and a public sector company at an event to promote exports on Monday.

Expansion

India’s efforts to become self-reliant in the defense sector are constantly getting wings. Especially in the matter of developing domestic technology and taking it to the world, the defense sector of the country is continuously progressing. Meanwhile, the figures of defense exports for the financial year 2021-22 are also telling the story of efforts to become self-reliant in the defense sector. During this one year, India touched the figure of 13 thousand crore rupees in the defense export sector. This is an increase of 54.1 percent as compared to the financial year 2020-21.

However, a surprising thing is that the private sector accounts for 70 percent of the total exports, while only 30 percent of the exports could be done by the public sector companies. According to Sanjay Jaju, Additional Secretary, Department of Defense Production, the country’s defense exports are mainly to the countries of America, Philippines, South East Asia, Middle East and Africa. India’s defense export in 2020-21 was Rs 8 thousand 434 crore, while in 2019-20 it reached Rs 9 thousand 115 crore.

India’s defense exports stood at just Rs 2059 crore in the financial year 2015-16. On the other hand, the last two years were lethargic due to Kovid, but this time we have made good progress. India has increased defense exports by eight times in FY 2021-22 as compared to five years ago.

Sanjay Jaju said, private sector companies have performed well by exporting around 70 per cent. It is worth noting that in January this year, India had signed a deal worth $ 375 million (about Rs 2770 crore) with the Philippines. Under this, India has signed an agreement to supply BrahMos supersonic missiles to the Philippines. Defense Minister Rajnath Singh will present awards to a private sector company and a public sector company at an event to promote exports on Monday.

,

[ad_2]

Source link

Leave a Reply

Your email address will not be published.