India’s arms exports jumped 6 times under Modi’s rule, there is tremendous demand for BrahMos missile in the global market

In January 2022, India has made a defense deal with the Philippines worth $ 375 million, or Rs 2770 crore. Under this deal, India will export BrahMos missile to the Philippines.

Countries like Vietnam, Indonesia have also shown interest in buying arms from India.

one side India’s defense budget ,Defense budget of India) is continuously increasing. On the other hand its focus is the defense sector (Defense sector) also have the ability to become self-reliant. Modi government India’s defense import (India defense import) and is working continuously to increase exports. Meanwhile, the Defense Minister said in the Lok Sabha that in the last eight years, there has been a 6-fold jump in India’s arms exports. In the current financial year, India has so far exported arms worth Rs 11607 crore. Minister of State for Defense Ajay Bhatt said in a written reply in the Lok Sabha that in the financial year 2014-15, India had exported weapons worth 1941 crores, which has so far reached Rs 11607 crores in the financial year 2021-22.

In the last seven years, the government has taken many important decisions to promote defense exports. The government has set a target of increasing the country’s defense exports to Rs 36,500 crore by the financial year 2024-25. Bhatt said that the Ordnance Factory Board and its 41 factories have been corporatized by the government into seven defense public sector undertakings, which will be of great benefit.

Indian BrahMos missile in fierce demand

In January 2022, India has made a defense deal with the Philippines worth $ 375 million, or Rs 2770 crore. Under this deal, India will export BrahMos missile to the Philippines. According to media reports, after the agreement with the Philippines, countries like Vietnam, Indonesia have also shown interest in making such defense deals with India. It is possible that in the coming days, India will export arms to these countries on a large scale.

Negotiations continue with these countries

India has manufactured BrahMos missile and Akash air defense system in its own country. Saudi Arabia and United Arab Emirates i.e. UAE have shown interest in this. India’s talks are going on with these two countries regarding the defense deal.

Defense budget doubled in last eight years

Bhatt said that it has almost doubled from the budget of 2013-14 to about Rs 5.25 lakh crore. The defense budget of the country for the financial year 2013-14 was Rs 2.53 lakh crore. He said that according to the ‘Stockholm International Peace Research Institute’ (SIPRI), India ranks third in the world after the US and China on the basis of expenditure in the defense budget. According to SIPRI, India has increased the expenditure on defense budget by 76 percent between 2011 and 2020, while the expenditure on defense budget has increased by only 9 percent in this period all over the world.

21% drop in arms imports – SIPRI

If we look at India’s arms imports in the last few years, Russia’s share has come down drastically. Russia’s share of arms imports in India declined from 69 per cent in 2012-17 to 46 per cent in 2017-21. According to the SIPRI report, arms imports into India decreased by 21 per cent between 2012-16 and 2017-21. Despite this, India remained the world’s largest importer of major arms in 2017-21 and the world’s largest importer of arms during this period. India’s share in total arms imports was 11 percent.

47% drop in arms imports from Russia

The SIPRI report said that Russia was the largest supplier of major arms to India in the period 2012-16 and 2017-21, but Russian arms imports into India declined by 47 per cent between these two periods, as Russian In contrast, India’s arms imports from France increased by more than ten times, making it India’s second largest arms supplier in 2017–21.

read this also, Foreign exchange reserves decreased due to the sale of foreign investors and the fall in gold, know how much is now in the treasury of RBI

read this also, Imports from China decreased by 7.2%, exports jumped by 26%, yet the trade deficit continues to grow

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