Defence exports touch ₹13,000 crore: official

Source: The post is based on the article “Defence exports touch ₹13,000 crore: official” published in The Hindu on 9th July 2022

What is the News?

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

About India’s Defence Exports

For the first time, India’s defence exports have reached Rs 13,000 crore in 2021-2022.

This increase in defense exports is almost “eight times” what it was around five years ago.

The US was a major 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.

Note: 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.

What is the Artificial Intelligence in Defence(AIDef) symposium?

Organized by: Department of Defence Production, Ministry of Defence.

Purpose: 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.

The products are in the domains of automation/unmanned/robotics systems, cybersecurity, human behavior analysis, intelligent monitoring system, logistics and supply chain management, speech/voice analysis, and Command, Control, and Communication.