Export of defence equipment nearly Rs 3,000 crore over last 3 years
In the current year 2016-17 the highest exports of defence equipment is to Sri Lanka, closely followed by Mauritius.
The total revenue from the export of defence platforms, equipments and spares by Defence Public Sector Undertakings (DPSUs) over the last three years and current year till June 2016 is Rs 2,972.96 crore.
However, India's export of defence equipment has been declining.
In 2013-14 the exports were at Rs 503.91 crore and doubled to Rs 1,120.44 crore in 2014-15. Defence exports however declined to Rs 962.58 crore in 2015-16. In the span of three months since the start of 2016-17 defence exports are at Rs 386.03 crore.
The decline in the defence exports from India is reflected by the countries which have recorded the highest defence imports from India. While Russia was the highest importer of defence equipment from India in 2013-14 at Rs 158.84 crore, the exports to Mauritius were the highest at Rs 408.76 crore in 2014-15. In 2015-16 exports to Israel were the highest at Rs 161.14 crore.
In the current year 2016-17 the highest exports of defence equipment is to Sri Lanka, closely followed by Mauritius at Rs 144.32 crore and Rs 136.93 crore, respectively.
Some of the major defence equipments exported by Defence Public Sector Undertakings (DPSUs) and Ordnance Factories (OFs) are Patrol Vessels, Helicopters and their spares, Sonars and Radars, Avionics, Radar Warning Receivers (RWR), Small Arms, Small Caliber Ammunition, Grenades, Telecommunication equipments etc, said Defence Minister Manohar Parrikar.
To encourage export, DPSUs have been permitted to export upto 10% of their annual production. For items, where there is a capacity constraint, if DPSUs export, they would be required to ramp up their capacity accordingly in subsequent year.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
09:02 PM IST