India’s Defence Exports

Why in news?

• India’s defence exports touched a record Rs. 13,000 crores in the 2021-2022 fiscal.

About India’s Defence Exports:

• India’s defence exports have reached Rs 13,000 crore in 2021-2022 for the first time.
• This increase in defense exports is almost “eight times” what it was around five years ago.
• The US is the largest buyer of India’s defense exports. Other countries were from Southeast Asia, West Asia, and Africa.
• The private sector accounted for 70% of the defence exports, while public sector firms accounted for the rest.
  • Earlier, the private sector used to account for 90%, but now the share of defense public sector units has gone up.
  • The reason behind the rise in public sector share is due to the Rs 2,500 crore deal that India made with the Philippines for the BrahMos missiles.

About ‘Artificial Intelligence in Defence (AIDef) symposium’:

• It is organized by Department of Defence Production, Ministry of Defence.
• It aims to showcase the cutting-edge AI-enabled solutions developed by the Industry, start-ups & innovators.
• At the event, 75 newly-developed AI products/technologies having applications in defense will also be launched.

PRACTICE QUESTION

Consider the following statements India’s Defence Exports

1. The private sector accounted for 70% of the defence exports

2. United States is the biggest importer of Indian Defence goods

Which of the statements given above is/are correct?

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Answer