Indian defence exports have been resilient in the face of the Covid-19 pandemic, newly updated data from the Ministry of Defence (MoD) in New Delhi suggests.
The data, which is partly based on the value of export authorisations issued to private-sector firms, shows that India’s defence exports increased in fiscal year (FY) 2019–20 but then declined in FY 2020–21, which ended in late March.
Indian defence exports in FY 2020–21 were valued at INR84.34 billion (USD1.14 billion): a 7.5% decline against the INR91.11 billion recorded in 2019–20.
The FY 2019–20 figure was a 9.5% increase over the INR83.20 billion in sales recorded for FY 2018–19, which itself was a jump of nearly 80% over the INR46.82 billion in exports posted in FY 2017-18. According to the data, Indian defence exports in FY 2016-17 were INR15.21 billion.
The data also attributes the majority of sales in recent years to the private sector.
Sales from state-owned defence public sector undertakings (DPSUs) and the network of 41 defence factories under the Ordnance Factory Board (OFB) have remained below INR10 billion in the past three fiscal years.