MOSCOW (Pakistan Point News / Sputnik - 26th September, 2022) India has increased its defense sector exports by 334% in the past five years, the national press information bureau (PIB) said.
"The Indian Defence sector, the second largest armed force is at the cusp of revolution. Defence exports grew by 334% in the last five years; India now exporting to over 75 countries due to collaborative efforts," PIB said in a tweet on Sunday.
Indian Defence Minister Rajnath Singh said in October 2021 that India was among the top 25 defense products exporting nations.
In April, the Indian Ministry of Defence changed its procedure for weapon procurement by limiting it to only home-produced arms with few exceptions. These changes are made as part of the current government's flagship "Make in India" policy, launched in 2014 and aimed at encouraging local production. Singh said that the Indian defense ministry compiled a list of more than 300 types of weapons that will not be purchased abroad.
