Jump to content

Defence industry of India

From Wikipedia, the free encyclopedia

HAL Light Utility Helicopter
HAL Prachand
HAL Tejas

The defence industrial sector of India is strategically important in India.[1] India has one of the world's largest military forces with a strength of over 1.44 million active personnel. The country has the world's largest volunteer  military of over 5.1 million personnel.[2] The total budget sanctioned for the Indian military for the financial year 2021 is 4.78 lakh crore (equivalent to 5.6 trillion or US$67 billion in 2023).[3][4] It has the third largest annual defence budget behind USA (US$732 billion) and China (US$261 billion). It is the second largest defence importer behind Saudi Arabia making up 9.2% of global arms imports. India has a domestic defence industry of which 60% is government owned. The public sector includes NTRO, CSIR, PRL, DRDO and its 50 labs, 4 defence shipyards, 12 defence public sector undertakings (PSUs). India has a new defence procurement, acquisition and manufacturing policy to reduce imports and enhance domestic manufacturing.[5]

"Defence Production Policy of 2018" (DPrP-2018) has a goal of becoming among the top 5 global producers of the aerospace and defence manufacturing with an annual export target of US$5 billion by 2025.[6][7] 12% of worldwide arms exports (by value) reach India.[8] India domestically produces only 70% to 75% of defence products it uses, and the rest are imported.[9] India's defence exports were ₹4,682 crore (US$0.66 billion) in 2017–2018 and ₹10,500 crore (US$1.47 billion) in 2018–2019, of 2018–2019 exports India's 8 Defence Public Sector Undertakings (DPSU) and 41 Ordnance Factories (OF) contributed ₹800 crore (7.6% of total defence exports).[6] During 2014 to 2018, India was the world's second largest defence importer.[10]

USA is the largest importer of Indian made materials, alloys, steel, components and sub-systems.[11][12] Armenia is the 2nd largest importer of Indian made finished weapon systems and equipment, and France is a large importer of electronics and software.[13][14]

Military budget

[edit]

The military budget of India is about 1.49% for the year 2018–19 of the total GDP.[15] However, it spends nearly an equal amount in importing defence equipment from other countries.

Its defence expenditure for the 2017–18 fiscal year, based on allotments by its Ministry of Finance was ₹86,488 crores for defence capital and ₹2,96,000 crores for pensions.[16]

Service/ department-wise allocation as a percentage of total defence estimates in 2017–18:

The Indian Army accounts for more than half of the total defence budget of India, with most of expenditure going to the maintenance of cantonments, salaries and pensions, instead of critical arms and ammunition.[17] As of 2019, there is 25% shortfall in the military's budget demand versus the actually budget allocation by the government.[18] There are suggestion to use the military's land bank to generate more funds to bridge this gap for the modernisation of military with the latest equipment.[18] From November 2019, government exempted the imported defence equipment from the customs and import duties for a period of five year during which domestic production is unlikely to meet the technical demand of the forces.[19] This will result in a savings of ₹25,000 crore (US$3.5 billion) which could be used for the modernisation of the forces.[19]

State orders

[edit]
BLT tank based on Arjun platform
Mahindra Armored Light Specialist Vehicle

The Government of India has been pushing for greater indigenisation of military hardware devices as India imports some amount of its defence equipment. Between 2016 and 2020, India accounted for 9.5% of total global arms imports.[20] From 2000 to 2022, France, Israel, Russia, United Kingdom and the United States are the top 5 countries where India imports its ammunitions and weapons from.[21] Thus in 2022, the Indian Government scrapped the import of several large defence platforms and equipment, which included helicopters for the Coast Guard, all-terrain vehicles (ATVs) and short-range missiles.[22] In addition to this, the Ministry of Defence has started releasing indigenisation lists, which consists of equipment and platforms that the government aims to completely indigenise by December 2025.[23] The Defence Ministry has also stated that the equipment and platforms that are on the third indigenisation list, could result in state orders that are worth more than Rs 2,10,000 crore being placed on the Indian defence industry in the next five years.[23]

Arms transfers of India[24]
Exports

($1990 million)

Imports

($1990 million)

2010 2019 2010 2019
5 115 2,909 2,964

Compared to other military branches, the Indian Army consumes 50% of defence budget, is least technology intensive and slowly adopting the indigenisation of defence equipments which has multi-year long procurement cycle, and pre-purchase field trials last for several years sometimes without resulting in any procurement process, for example soldier's hand held GPS enabled indigenous "Sathi" PDA "Beta Project" was abandoned midway and soldiers still do not have a PDA.[25] To expedite the development cycle of new technologies and to better fit the end user requirements, army has asked DRDO to take more army personnel on deputation to be part of the DRDO development project teams.[26]

The Indian Armed forces are using numerous successful Indigenous technologies produced by the DRDO, including Varunastra, Maareech, Ushus, Advanced Light Torpedo (TAL) Shyena; Electronic Warfare Technologies, radars, composite materials for LCA, AEW&C, Astra, LCA Tejas by the Indian Airforce; ASAT, Brahmos, Nag missile, SAAW, Arjun MBT Mk1A, 46-metre Modular Bridge, MPR, LLTR Ashwin by the army.[27]

Arms exports

[edit]
Ashok Leyland FAT 6×6 is the latest armoured truck of the Indian Army
Pinaka Missile System

India's track record as an arms exporter has been modest due to export restrictions on the manufacturing companies.[28][29] PSUs exports Arms and Ammunition, Weapon Spares, Chemicals & Explosives, Parachutes, Leather and Clothing items to more than 30 countries worldwide e.g. Thailand, Malaysia, Indonesia, Sri Lanka, Bangladesh, Germany, Belgium, Turkey, Egypt, Oman, Israel, Kenya, Nigeria, Botswana, Chile, Suriname and United States.[30][31]

However, due to opening up of the defence sector by the Prime Minister Narendra Modi's government since 2014, there has been a substantial increase in India's defence exports. According to the latest official data given in the upper house of the Indian Parliament - the Rajya Sabha, India's defence exports have jumped by 700% in just two years. The export authorisation went up from $213 million in FY 2016–17 to $1.5 billion in FY 2018-19 (April to March period).[32] The Stockholm International Peace Research Institute has noted that three Indian companies that rank among the top-100 defence companies, viz., Hindustan Aeronautics Limited, AVANI and Bharat Electronics Limited, account for 1.2% of the defence exports of the top-100 total.[33]

In March 2011 New Delhi agreed to sell its first indigenously designed and built multi-role offshore patrol vessel (OPV) named Barracuda, to Mauritius. In March 2017, India finalised a deal with Myanmar for the sale of indigenously developed lightweight torpedoes worth US$37.9 million. Similar naval platforms were sold to Sri Lanka and Vietnam as well.[34] Thailand has also purchased over 600 military trucks from India.[35] Armenia has emerged as a strategic partner for India. In 2022, when India signed the deal to supply Pinaka multi-barrel rocket launchers (MBRL), anti-tank munitions, and ammunition worth US$250 million to Armenia[36]

In September 2017, AWE secured its biggest export orders from UAE for supplying 40,000 no.of 155 mm artillery shells for 3.22 billion (US$39 million).[37] In Aug 2019, AWE received a second order from UAE to supply another 50,000 artillery shells.[38]

Tata 8x8 LPTA truck
Akash SAM System at Defence Expo.

In 2023, The Royal Moroccan Army, which received 92 Tata 8×8 LPTA 2445 trucks. Tata 8×8 LPTA 2445 trucks is based on Tata 1623 platform which is going to replace Tatra trucks in India.[39]

The Defence Minister Rajnath Singh has stated in 2021 that India was ready to export different types of missile systems, Light Combat Aircraft, helicopters, multi-purpose light transport aircraft, warships and patrol vessels, artillery gun systems, tanks, radars, military vehicles, electronic warfare systems and other weapons systems to Indian Ocean region nations.[33] The Ministry of Defence's Year End Review 2023 states that exports for FY 2022–2023 totalled 16,000 crore. It covered 85 nations and reached a ten-fold increase from FY 2016–17. Major platforms exported include the Pinaka multi-barrel rocket launcher, radars, simulators, mine-protected vehicles, armoured vehicles, line replaceable units and parts, thermal imagers, body armours, ammunitions, small arms and avionics components. Other platforms include the Dornier-228, 155 mm/52 calibre DRDO Advanced Towed Artillery Gun System, BrahMos cruise missile, and Akash SAM.[40][41]

In the fiscal year 2023–2024, defence exports totalled ₹21,083 crores (about $2.63 billion), a 32.5 per cent increase from the previous fiscal year.[42] The data also show a 31-fold increase over the previous ten years when compared to 2013–14. The private sector and the defence public sector entities generated roughly 60% and 40% of exports respectively. About 100 companies are involved in the export of military gear. The total amount of defence exports from 2004–05 to 2013–14 was ₹4,312 crore; from 2014–15 to 2023–24, it increased to ₹88,319 crore.[43][44] In the first quarter of the financial year 2024-25, defence exports reached ₹6,915 in value.[42]

Companies

[edit]

State-run

[edit]
Name Specialization Revenue (as of 2020, except DRDO) Operating Income (As of 2020, except DRDO) Employees (as of March–April 2019, except Goa Shipyard) Notes
Centre for Development of Telematics Defense communication systems
Bharat Dynamics Ammunition and missile systems ₹3,095.2 crore (US$430 million) ₹2,828.8 crore (US$400 million) 3,030 [45][46]
Bharat Electronics Avionics and radar ₹32,920 crore (US$4.6 billion) ₹12,480 crore (US$1.7 billion) 9,612 [45][46]
Bharat Earth Movers Earthmoving equipment and transportation ₹3,077.4 crore (US$430 million) ₹153.20 crore (US$21 million) 7,185 [47]
Electronics Corporation of India Limited communication systems and electronics ₹13.08 billion (US$160 million) (2015) ₹0.52 billion (US$6.5 million) (2015) 1,974 [48]
Garden Reach Shipbuilders & Engineers Shipbuilding and ship designing ₹1,658.79 crore (US$230 million) ₹225.20 crore (US$32 million) 2,100 [49][50]
Goa Shipyard Shipbuilding ₹₹1,071.76 crore (US$150 million) ₹264.92 crore (US$37 million) 1472 (March 2020) [51]
Hindustan Aeronautics Limited Aerospace manufacturing and defence manufacturing company ₹21,522.07 crore (US$3.0 billion) ₹3,960.57 crore (US$560 million) 28,345 [52][53]
Mazagon Dock Limited Shipbuilding ₹4399.16 crores (US$640 million) 9,000 [54][55]
Mishra Dhatu Nigam Metallurgy ₹747 crores (US$110 million) 852 [56][57][58]
Utkarsha Aluminium Dhatu Nigam Limited (UADNL) Metallurgy ₹2,000 crores 380 [59]
Cochin Shipyard Limited Shipbuilding ₹28,745 crore (2017–2018, US$370 million) 12,000

Government based defense production entities

[edit]

Private companies

[edit]

Indo-MIM is the largest defence exporter company in India.[60]The following are private Indian companies that are involved in the defence industry.

Name of company Established Specialization
Adani Defence & Aerospace[61] 2015 Aerospace and Unmanned Aerial Vehicles
Aerolloy Technologies[62] 2020 Metallurgy
Alpha Design Technologies 2003 avionics, defence electronics, and space satellite systems
AS Strategic[63] 2021 Diversified defence equipments
Astra Microwave Products[64] 1991 Radar systems
Apollo Micro Systems[65] 1985 Defence electronics, avionics and space satellite systems
Avantel[66] 1985 High frequency communications, radar, SDR and space satellite systems
BrahMos Aerospace 2004 Missile systems
Bharat Forge 1961 Artillery and metallurgy
Centum Electronics 1993 Defense electronics
CRON systems 2015 Cybersecurity and LIDAR
Crown Group 1978 AI, cybersecurity and M.R.I scanning devices
CYRAN AI Solutions[67] 2018 AI, Cyber-Physical Security and Nanoelectronics
Data Patterns[68] 1976 Defence electronics
Defsys Solutions 2007 Avionics
DCX Systems[69] 2010 Avionics and wire-harness
Dynamatic Technologies 1973 Aerospace hydraulics and metallurgy
Elecon Engineering 1960 Machinery
EyeROV 2016 UAV
Godrej & Boyce 1985 Aerospace and precision engineering
Global Strategic Technologies 2011 Aerospace, missile systems and tanks
HBL Power Systems[70] 1976 Battery and power-generating systems
High Energy Batteries Ltd.[71] 1961 Battery and power-generating systems
Jakson Group 1947 Diesel generators
Jindal Defence 1947 Arms, armoury and missile systems
Kineco Limited[72] 1994 Composites
Krishna Defence & Allied Industries Ltd.[73] 1996 Metallurgy
Larsen & Toubro 1948 Diversified defence products and equipment
MAK Controls and Systems 1973 Ground support equipment, land-based systems and electronic systems
Megha Engineering and Infrastructures Limited[74] 1989 Defence communications and electronics systems
Nibe Defence and Aerospace[75] 2022 Power electronics, precision and structural engineering
Tardid Technologies 2016 AI-based autonomous vehicles[76] and cybersecurity
Tata Advanced Systems 2007 Aerospace, land-based defence systems, radar systems, missile systems, drones and sonar
Tata Steel Advanced Materials 2012 Composites
Tata Power SED 1975 Defence electronics, UAVs, and missile systems
Texmaco Defence Systems 2017 Armoured vehicles, artillery and weapons
Titagarh Wagons 1982 CBRNe, Mine clearing systems and military trailers
Tonbo Imaging[77] 2003 Imaging systems
Triveni Engineering & Industries 1932 Gearboxes and Gas turbines
SSS Defence 1960 Small arms and metallurgy
Staqu Technologies[78] 2015 AI/surveillance/computer vision
Sisir Radar 2022 Radars
Mahindra Aerospace 2008 Aerospace
Mahindra Defence Systems Ltd. 2012 Armoured vehicles
MKU 1985 Armoury
Paras Defence and Space Technologies Ltd. 1972 Diversified defence equipments
Premier explosives 1980 Diversified defence equipments
PTC Industries 1963 Alloys and metallurgy
MTAR Technologies 1984 Diversified defence equipment and satcoms
Raphe Mphibr Pvt Ltd 1963 Alloys and metallurgy
Rossell Techsys 2009 Composites
Samtel Avionics 2006 Display systems
Exicom Telecom-Systems 1994 Defense communication systems and RF
Sandeep Metalcraft Pvt Ltd 1988 Arms and missile systems
Sika Interplant Systems Ltd. 1969 Gearboxes and turbines
Solar Industries India 1983 Diversified defence equipments
Sagar Defence Engineering[79] 2015 Unmanned Marine Vehicles
Torus Robotics 2015 UAV
VEM Technologies[80] 1993 Aerospace
ideaForge 2007 UAV
Optimized Electrotech 2017 UAV
Walchandnagar Industries 1908 Missile systems
Sahajanand Laser Technology Limited[81] 1989 Manufacturing & Exporting of Microwave Absorbers, RADAR Absorbent Materials, Shielded Anechoic Chambers and EMI/EMC Test Ranges for both Civil and Defence purposes.

Other defence entities

[edit]

Domestic defence production

[edit]

Indigenisation

[edit]

In September 2019, DRDO formulated the "DRDO Policy and Procedures for Transfer of Technology" and released information on "DRDO-Industry Partnership: Synergy and Growth and DRDO Products with Potential for Export".[27] During the Vibrant Goa Global Expo and Summit 2019 in October, DRDO signed technology transfer contracts with 16 Indian companies, including 3 startups, to produce products for the use by Indian Armed Forces.[82] This included high shelf life, high nutrition, ready-to-eat on-the-go food products to be consumed in the difficult terrain and bad weather.[82] To boost the domestic defense production capability, Defence Minister Rajnath Singh's November 2019 delegation included 50 Indian companies scouting for the Russian partners and joint ventures for the defence production in India.[83] DRDO and ISRO have agreed to collaborate in India's crewed orbital spacecraft project called Gaganyaan during which DRDOs various laboratories will tailor their defence capabilities to suit the needs of ISRO's human space mission.[84] To become technology research and production leader, reduce reliance on the imports and increase self-reliance, DRDO Chief called for more collaboration with the industry, private sector, research and education institutes including IITs and NITs.[9]

Make in India

[edit]

The Modi government in its first year cleared 39 capital procurement proposals, of which 32 proposals worth 88,900 crore (US$11 billion) (or 96% of the value of total proposals) were categorized as Buy (Indian) and Buy and Make (India)—the top two prioritized domestic industry-centric procurement categories as per the defense procurement procedure (DPP).[85]Under Prime Minister Narendra Modi's flagship scheme, "Make in India in Defence," the government's policies encourage domestic manufacturing and the export of defense equipment. It has already resulted in substantial growth of defence exports from the country as it jumped by 700% in just two years, from $213 million in FY 2016–17 to $1.5 billion in FY 2018–19.[32] Encouraged by this scheme, the government set a target of achieving defence exports worth ₹35,000 crore ($4.87 billion) in the next four years.[86]

In July 2015, the defence ministry eased export regulations and stopped demanding multiple assurances on end-use from foreign governments even for sale of components by Indian entities.[87] Some critics say that instead of encouraging the manufacturing of equipment in India, the Modi government has given financial powers to the Armed forces to purchase equipment up to ₹500 crores without the consultation of the Ministry.[88][89] This will further increase the types of weapons, their spares and components, cost of maintainability which will result in non-compatibility and standardisation problems in near future.

India's defence output value increased to roughly 1.27 lakh crore in FY 2023-24, from ₹1,08,684 crore in FY 2022–23, marking the country's highest-ever rise. The value of defence output has climbed by more than 60% during FY 2019–20. According to the Ministry of Defence, of the overall value of output in FY 2023–2024, PSUs contributed around 79.2%, while the private sector provided 20.8%. In FY 2023–24, defence exports reached a record high of ₹21,083 crore, up 32.5% from the previous fiscal year when they were ₹15,920 crores.[90]

Research and development

[edit]

In 2024, Rajnath Singh, the Minister of Defence, stated that private sector defence companies need to take a more leading role in the industry, as they are better suited to innovate and respond to sectoral changes.[91] As of 2024, research and development (R&D) in the Indian defence industry is low compared to global peer companies, with Indian defence companies allocating 1.2% of their revenue to R&D compared to the global average of 3.4%.[92] There are companies that are exceptions to the low levels of R&D, with HAL allocating 9.3% of revenue to R&D, making the company among a leader in R&D spending globally, and Bharat Dynamics allocating 6.1% to R&D spending.[92]

FDI in defence

[edit]

Even though the Modi government has been trying hard to get FDI in the defence sector by first raising the cap from 26% to 74% through automatic route and 100% through MoD's approval, whereby the investing foreign entities can have ownership up to 100% in the defence manufacturing, which has received a dismal response with a meagre investment of just ₹56 lacs (US$0.08 million) in 2014–15, ₹71 lac (US$0.10 million) in 2015–16, ₹7 lacs (US$0.01 million) in 2017–18 and ₹15 crores (US$2.18 million) during 2018–19.[93]

Year Total FDI in defence
2014–15 USD 0.08 million (₹56 lacs)
2015–16 USD 0.10 million (₹71 lac)
2017–18 USD 0.01 million (₹7 lacs)
2018–19 USD 2.18 million (₹15 crores) [93]

Negative import list

[edit]

An import embargo on 101 defence items was announced on 9 August 2020. Over five years, the items will be prohibited from being imported.[94]

On 31 May 2021 GoI announced the ban on 108 items that were excluded from the early list. This also includes a roadmap of five years for the promotion of indigenous. The list was described as the "2nd Positive List for Indigenisation" by the government.[95][96][97][98][99] These include weapon systems like artillery guns, assault rifles, corvettes, transport aircraft, light combat helicopters (LCHs) and even wheeled armoured fighting vehicles (AFVs).

Involvement of arms dealers and middlemen

[edit]

Despite the strategic and economic importance of the defence sector, there have been numerous scandals that have been linked to defence deals which involve the import of foreign arms by the Indian government.[100][101] Many of these scandals, include allegations related to bribery and the alleged involvement of middlemen.[100][102] These alleged middlemen are also termed as lobbyists, arms agents or arms dealers.[103][104][105] Until the 1980s, agenting or lobbying on behalf of foreign defence companies was legal in India, however due to the political fallout from the Bofors Scandal, which happened in the 1980s, the Indian Government banned agents from being involved in defence deals.[106][107] This was due to the emergence of allegations against certain Indian politicians and defence officials of receiving payoffs to clinch the deal the between Bofors and the Indian Government.[107][108]

Even though arms dealers or arms agents are controversial within the defence sector, it has been reported that their role and involvement are critical for any defence deal to take place between foreign defence companies and the Indian Government.[109][104] Allegedly, arms agents can manipulate the procurement process because they have the means to pay substantial commissions to politicians, military officials and bureaucrats, therefore making them ever-present in defence deals.[100] In addition to this, members of the Ministry of Defence and military officials have stated that arms agents have the power to manipulate what is written in weapons test reports, and General V.K Singh, a former Indian Chief of the Army Staff, stated that the reach of lobbyists within the Defence Ministry extends to the level where agents have access to classified intelligence and know the inner workings of the ministry.[110][111]

According to the Central Bureau of Investigation (CBI), Sudhir Choudhrie, Suresh Nanda and Vipin Khanna were the largest and most powerful arms dealers for decades.[112][113][114] Allegedly, Khanna, Choudhrie and Nanda, started dominating the defence sector since before the Bofors Scandal in the 1980s, and their families have maintained their positions.[112][115][116] Supposedly, their commissions from arms deals could be up to as high as 15%.[112] Reportedly, Khanna, Choudhrie and Nanda played critical roles in getting defence deals approved because they have the capabilities to get a deal through the political and bureaucratic procurement process, due to their influence and connections within India.[113][100] All three men and members of their families have been accused in several defence scandals, however, none of the allegations against them have ever been proven.[117][116][118]

Several other individuals have also been alleged or rumoured to be smaller arms dealers or arms agents. This includes Abhishek Verma, who reportedly portrayed himself to be a powerful arms dealer, but according to the CBI, Verma was merely pretending to be in that position and according to Verma's associates, who spoke anonymously to the Economic Times for their article, Verma had created a false image of both his business and his wealth.[112][119] In 2012, Verma was arrested by the CBI for violating the Official Secrets Act, but in 2017, Verma was discharged by the courts due to lack of evidence against him.[120][121] Another individual accused of being an arms dealer is Sanjay Bhandari, who fled to the United Kingdom in 2016, and is currently fighting an extradition case, as the Indian Government wants Bhandari extradited to India, to face charges of money laundering and tax evasion.[122][123] The CBI also accused Mohinder Singh Sahni of being a small time arms dealer, during an investigation probe into him.[112][124]

In addition to this, non-Indian citizens have also been accused of allegedly giving bribes and kickbacks to influence defence deals in India. For example, Christian Michel, a British citizen, who was extradited to India from the United Arab Emirates in 2018.[125] Michel has been accused by the CBI and the Enforcement Directorate, of being one of the middlemen in the 2013 Indian helicopter bribery scandal, and has been in judicial custody in India for over five years, with his bail being denied by the Indian courts.[125][126][127]

See also

[edit]

References

[edit]
  1. ^ "The seven homegrown firms fighting over India's $620 billion defence market". Quartz. 20 February 2015. Archived from the original on 29 December 2016. Retrieved 12 November 2015.
  2. ^ "29 Largest Armies In The World". WorldAtlas. Archived from the original on 9 September 2019. Retrieved 5 September 2019.
  3. ^ "'Small increase': Chinese state media takes a dig at India's defence budget". Business Today. 4 February 2021. Archived from the original on 4 February 2021. Retrieved 25 March 2021.
  4. ^ Iiss, ed. (17 January 2018). The Military Balance 2009. doi:10.4324/9781351225946. ISBN 978-1-351-22594-6.
  5. ^ Pandit, Rajat (4 August 2020). "Draft policy seeks self-reliance for India in defence production". The Times of India. Archived from the original on 3 August 2020. Retrieved 15 July 2022.
  6. ^ a b India plans to be among top 5 defence producers Archived 5 November 2019 at the Wayback Machine, Conrad Courier, 5 November 2019.
  7. ^ "Nearly half of US arms exports go to the Middle East". Guardian. 12 March 2018. Archived from the original on 16 October 2018. Retrieved 16 October 2018.
  8. ^ Wezeman, Pieter D.; Fleurant, Aude; Kuimova, Alexandra; Tian, Nan; Wezeman, Siemon T. (March 2018). "Trends in international arms transfers 2017". sipri.org. SIPRI. Archived from the original on 16 October 2018. Retrieved 16 October 2018.
  9. ^ a b DRDO chief urges for indigenous defence production Archived 28 September 2019 at the Wayback Machine, The Economic Times, 28 September 2019.
  10. ^ "India is world's second-largest arms importer". The Hindu. 11 March 2019. Archived from the original on 5 May 2020.
  11. ^ "USA is India's No.1 Defense Export Market; Here is the List of Top 10 Countries for Indian Hardware". 4 July 2024.
  12. ^ "Yes, India's defence exports are booming, but guess who's the biggest importer". ThePrint. 21 August 2024.
  13. ^ Kumar, Bhaswar (28 October 2024). "Indian defence exports: From BrahMos to Akash, who are the major buyers?". Business Standard. Retrieved 28 October 2024.
  14. ^ "India's defence exports at $2.6 bn; US, France and Armenia top buyers". 28 October 2024.
  15. ^ "Military budget of India 2018". idsa.in. IDSA. Archived from the original on 30 December 2020. Retrieved 16 October 2018.
  16. ^ Full Speech: Finance Minister Arun Jaitley's Budget Speech | Union Budget 2017–18, 1 February 2017, archived from the original on 4 October 2023, retrieved 1 February 2017
  17. ^ "Defence Manufacturing in India - Companies & Investment Opport". Archived from the original on 3 January 2019.
  18. ^ a b Samanta, Pranab Dhal. "Defence BANK: Why unlocking defence land bank to meet military's needs isn't a bad idea". The Economic Times. Archived from the original on 20 November 2019. Retrieved 15 July 2022.
  19. ^ a b Pubby, Manu. "GST on Defence Imports: Customs, GST relief to give Rs 60,000-cr boost to defence". The Economic Times. Archived from the original on 23 November 2019. Retrieved 15 July 2022.
  20. ^ Pandit, Rajat (16 March 2021). "India's weapon imports fell by 33% in last five years but remains world's second-largest arms importer". The Times of India. Archived from the original on 7 June 2023. Retrieved 26 April 2022.
  21. ^ Radhakrishnan, Vignesh; Nihalani, Jasmin (22 March 2022). "Data | India reduced weapons importation from Russia, while China's dependency increased". The Hindu. ISSN 0971-751X. Archived from the original on 26 April 2022. Retrieved 26 April 2022.
  22. ^ Philip, Snehesh Alex (14 January 2022). "From choppers to missiles, Modi govt cuts defence foreign shopping list, favours Make in India". ThePrint. Archived from the original on 26 April 2022. Retrieved 26 April 2022.
  23. ^ a b "Defence Minister to release third positive indigenisation list on Thursday". Business Standard India. Press Trust of India. 6 April 2022. Archived from the original on 1 May 2022. Retrieved 26 April 2022.
  24. ^ "World Development Indicators". wdi.worldbank.org. Archived from the original on 9 May 2021. Retrieved 26 March 2021.
  25. ^ Unnithan, Sandeep (21 October 2019). "Why the army's changed mindset on indigenous technology is a relief". India Today. Archived from the original on 30 October 2019. Retrieved 15 July 2022.
  26. ^ NEWS Army wants DRDO to take in more of its personnel on deputation, give them more access Archived 5 November 2019 at the Wayback Machine, liistudio.com, 18 October 2019.
  27. ^ a b "Rajnath Singh Pushes For Indigenisation Of Defence Equipment". NDTV.com. Archived from the original on 4 November 2019. Retrieved 15 July 2022.
  28. ^ "Diplomatic concerns prompt govt to abort export of Mine Protected Vehicles to Iraq". 3 April 2006. Archived from the original on 20 September 2019. Retrieved 20 September 2019.
  29. ^ "Defence Exports | Department of Defence Production". Archived from the original on 20 September 2019. Retrieved 20 September 2019.
  30. ^ "Customers | Directorate of Ordnance (Coordination and Services) | Government of India". Ddpdoo.gov.in. 6 June 2022. Archived from the original on 15 July 2022. Retrieved 12 August 2022.
  31. ^ "We're making Ordnance factories future ready, says OFB Chairman Dimri". 28 September 2011. Archived from the original on 20 September 2019. Retrieved 20 September 2019.
  32. ^ a b "Make in India for the world: India's defence export jumps seven fold in two years". Defence Star. 14 February 2020.[permanent dead link]
  33. ^ a b Peri, Dinakar (16 December 2021). "The growth of India's defence exports". The Hindu. Archived from the original on 18 December 2021. Retrieved 18 December 2021.
  34. ^ "After Mauritius, India to export warships to Sri Lanka - the Times of India". The Times of India. Archived from the original on 5 May 2015. Retrieved 18 September 2017.
  35. ^ "Royal Thai Army to purchase over 600 TATA LPTA military trucks from India". 27 August 2020. Archived from the original on 11 November 2023. Retrieved 11 November 2023.
  36. ^ "After Pinaka Rockets, Armenia Buys Indian Anti-Drone System to Fight Azerbaijan's Kamikaze UAVs". 7 November 2023. Archived from the original on 14 November 2023. Retrieved 14 November 2023.
  37. ^ Majumdar, Arkamoy Dutta (30 November 2017). "India looking to scale up military hardware exports". Mint. Archived from the original on 28 March 2019. Retrieved 6 February 2019.
  38. ^ Pubby, Manu (3 August 2019). "In its largest ever export order, OFB to supply 50,000 Bofors shells to UAE". The Economic Times. Archived from the original on 8 November 2020. Retrieved 20 September 2019.
  39. ^ "Moroccan Army Plans to Acquire More Tata 6×6 LPTA Trucks after Outstanding Performance by Previous Batch". 27 October 2024.
  40. ^ "MINISTRY OF DEFENCE - YEAR END REVIEW 2023". Press Information Bureau. 22 December 2023. Archived from the original on 28 December 2023. Retrieved 24 December 2023.
  41. ^ "2023 witnesses recorded defence exports, all-time high productions". The Times of India. 25 December 2023. ISSN 0971-8257. Archived from the original on 25 December 2023. Retrieved 25 December 2023.
  42. ^ a b ET Online (12 August 2024). "India's defence exports skyrocket by 78% in Q1 FY 2024-25, sets new benchmarks". The Economic Times. ISSN 0013-0389. Retrieved 14 August 2024.
  43. ^ Ray, Kalyan. "India's defence exports cross Rs 21K mark; registers 32% growth from last fiscal". Deccan Herald. Archived from the original on 2 April 2024. Retrieved 2 April 2024.
  44. ^ "India's defence exports cross ₹21,000 crore mark". Hindustan Times. 1 April 2024. Archived from the original on 2 April 2024. Retrieved 2 April 2024.
  45. ^ a b "Financial Results 31.03.2020 Data from BSE Site" Archived 31 December 2022 at the Wayback Machine.
  46. ^ a b https://www.bel-india.in/Documentviews.aspx?fileName=Annaul-Report-2019-20-07-09-2020.pdf Archived 24 June 2021 at the Wayback Machine [bare URL PDF]
  47. ^ "Balance Sheet 31.03.2020" Archived 18 October 2021 at the Wayback Machine.
  48. ^ "Annual report 2018-19" Archived 15 December 2022 at the Wayback Machine.
  49. ^ "Balance Sheet 31.03.2020" Archived 16 July 2021 at the Wayback Machine.
  50. ^ http://www.grse.in/pdf/investors/Annual%20Report%202018-19_GRSE.pdf Archived 16 July 2021 at the Wayback Machine [bare URL PDF]
  51. ^ "Balance Sheet 31.03.2020" Archived 16 July 2021 at the Wayback Machine.
  52. ^ "HAL Financial 2020" (PDF). Archived (PDF) from the original on 26 July 2021. Retrieved 26 July 2021.
  53. ^ https://hal-india.co.in/Common/Uploads/Finance/Annual%20Report%202018-19.pdf Archived 19 October 2019 at the Wayback Machine [bare URL PDF]
  54. ^ https://mazagondock.in/writereaddata/pdf_doc/Annual_Reports/Annual_Report_English_2017-2018.pdf Archived 23 October 2021 at the Wayback Machine [bare URL PDF]
  55. ^ "Mazagon Dock Shipbuilders Limited – Ship Builder to the Nation". mazagondock.gov.in. Archived from the original on 19 April 2016. Retrieved 20 April 2016.
  56. ^ "Mishra Dhatu Nigam Profit and Loss Reports". Archived from the original on 20 September 2019. Retrieved 20 September 2019.
  57. ^ https://www.sebi.gov.in/sebi_data/attachdocs/apr-2018/1522924415143.pdf Archived 20 September 2019 at the Wayback Machine [bare URL PDF]
  58. ^ "::Mishra Dhatu Nigam Limited::Home::,superalloy, titanium, special steel industry". midhani.gov.in. Archived from the original on 1 May 2016. Retrieved 20 April 2016.
  59. ^ "2nd Annual Report 2020-21" Archived 30 November 2021 at the Wayback Machine.
  60. ^ "Yes, India's defence exports are booming, but guess who's the biggest importer". ThePrint. 21 August 2024.
  61. ^ Singh, Navdeep (25 May 2023). "PTC Industries shares jump over 8% after subsidiary gets IAI approval for components". The Economic Times. ISSN 0013-0389. Archived from the original on 30 June 2023. Retrieved 1 August 2023.
  62. ^ Singh, Navdeep (25 May 2023). "PTC Industries shares jump over 8% after subsidiary gets IAI approval for components". The Economic Times. Archived from the original on 25 May 2023. Retrieved 5 October 2023.
  63. ^ "Home". AS Strategic. Archived from the original on 26 November 2021. Retrieved 28 June 2024.
  64. ^ "CRISIL reaffirms ratings of Astra Microwave Products". Archived from the original on 18 November 2022. Retrieved 1 August 2023.
  65. ^ "Archived copy". Archived from the original on 28 June 2024. Retrieved 4 October 2023.{{cite web}}: CS1 maint: archived copy as title (link)
  66. ^ "Avantel to Supply Power Amplifier Modules to Bharat Electronics". 23 August 2023. Archived from the original on 4 February 2024. Retrieved 24 August 2023.
  67. ^ "This Engineer's Hardware Is Inspired by the Brain". spectrum.ieee.org. Retrieved 21 September 2024.
  68. ^ "Data Patterns will transition to end-systems, scale up exports in four years". 24 March 2023. Archived from the original on 12 May 2023. Retrieved 4 October 2023.
  69. ^ ""DCX Systems Building India's Aerospace & Defence Giant for an Aatmanirbhar Bharat"". 22 May 2023. Archived from the original on 14 November 2023. Retrieved 4 October 2023.
  70. ^ "Stock watch: HBL Power nearly triples in 6 months; defence, railway play driving gains". 29 September 2023. Archived from the original on 2 October 2023. Retrieved 4 October 2023.
  71. ^ "High tech battery innovations may get a PLI push". 6 April 2022. Archived from the original on 13 November 2023. Retrieved 4 October 2023.
  72. ^ "External link". www.kinecogroup.com. Archived from the original on 20 September 2022. Retrieved 18 September 2022.
  73. ^ "Krishna Defence Shares Hit Record High After Securing Order from Defence Ministry". 10 May 2023. Archived from the original on 13 November 2023. Retrieved 4 October 2023.
  74. ^ "MEIL Enters Defence Equipment Manufacturing" (Press release). Archived from the original on 13 November 2023. Retrieved 5 October 2023.
  75. ^ "Chief of Naval Staff inaugurates Nibe Defence and Aerospace plant, says step towards 'Atma Nirbharta'". The Times of India. 19 February 2024. ISSN 0971-8257. Retrieved 21 September 2024.
  76. ^ "Another start-up, Brainbox SSO to provide AI solution during RD Parade". 25 January 2023. Archived from the original on 28 September 2023. Retrieved 4 October 2023.
  77. ^ "Bengaluru tech gives US, Israeli weapons eyes". 17 November 2019. Archived from the original on 14 November 2023. Retrieved 4 October 2023.
  78. ^ "AI for Smart Crime-Fighting". 14 October 2019. Archived from the original on 2 December 2022. Retrieved 5 October 2023.
  79. ^ "India's Defence Advances: Sagar Defence Engineering to Develop Cutting-Edge Underwater Launched Unmanned Aerial Vehicles (ULUAVs)". Financialexpress. 12 June 2024. Retrieved 7 July 2024.
  80. ^ "VEM Tech inks pact with HAL for 20 CFL units for Tejas". The Hindu. 19 October 2022. Archived from the original on 3 February 2024. Retrieved 4 October 2023.
  81. ^ "Sahajanand Laser Technology services in Defense Industry". 6 March 2023. Archived from the original on 6 March 2023. Retrieved 6 March 2023.
  82. ^ a b DRDO signs pacts on Transfer of Technology with 16 companies Archived 18 March 2020 at the Wayback Machine, The Economic Times, 18 October 2019.
  83. ^ 50 India Inc representatives to accompany Rajnath Singh to Russia to explore JVs Archived 16 February 2020 at the Wayback Machine, The Economic Times, 31 October 2019.
  84. ^ ISRO, DRDO sign MoUs for Gaganyaan mission Archived 18 February 2020 at the Wayback Machine, The Economic Times, 17 September.
  85. ^ "Make in India: Big role for private firms in defense", Mint, 15 February 2016, archived from the original on 15 February 2016, retrieved 15 February 2016
  86. ^ "India's defence export set to double in next four years to $4.86 billion". Defence Star. 14 February 2020.[permanent dead link]
  87. ^ Pubby, Manu (16 February 2016), "Make in India: How small tweaks in policy are drawing domestic and global firms to defence manufacturing", The Economic Times, archived from the original on 17 June 2024, retrieved 22 April 2024
  88. ^ "Significant rise in value and number of cases processed by Defence Services following delegation of enhanced financial powers". Archived from the original on 20 September 2019. Retrieved 20 September 2019.
  89. ^ "Post Pulwama, government grants more financial powers to the 3 services for weapons". The Economic Times. Archived from the original on 4 October 2023. Retrieved 20 September 2019.
  90. ^ "India's defence production skyrockets to Rs 1.27 lakh crore in 2023-24, thanks to 'Make in India' success". The Economic Times. 5 July 2024. ISSN 0013-0389. Retrieved 7 July 2024.
  91. ^ ANI (18 October 2024). "Private sector must lead in India's defence innovation: Rajnath Singh". Business Standard. Retrieved 18 October 2024.
  92. ^ a b ANI (1 July 2024). "Indian defence firms need to invest more in innovations and R&D to keep pace with global standards: Report". The Economic Times. ISSN 0013-0389. Retrieved 20 October 2024.
  93. ^ a b "Defence industry received $2.18 million FDI in 2018-19: Government". The Economic Times. Archived from the original on 25 December 2022. Retrieved 20 September 2019.
  94. ^ Kaushik, Krishn (10 August 2020). "Explained: What is the negative imports list for defence announced by Rajnath Singh?". The Indian Express. Archived from the original on 30 September 2020. Retrieved 11 August 2020.
  95. ^ "Mini UAVs, mine-protected vehicles among new list of 108 defence items banned for import | Full List". 31 May 2021. Archived from the original on 2 June 2021. Retrieved 16 June 2021.
  96. ^ "India expands negative list for defence imports with 108 new items". 31 May 2021. Archived from the original on 24 June 2021. Retrieved 16 June 2021.
  97. ^ "India announces second progressive arms embargo list to boost domestic defence production | India News - Times of India". The Times of India. June 2021. Archived from the original on 24 March 2024. Retrieved 22 April 2024.
  98. ^ Shukla, Ajai (22 February 2021). "Import embargo on 101 defence items would encourage self-reliance: PM Modi". Business Standard India. Archived from the original on 24 June 2021. Retrieved 16 June 2021.
  99. ^ "Govt bans import of 108 defence items to boost self-reliance". June 2021. Archived from the original on 9 June 2021. Retrieved 16 June 2021.
  100. ^ a b c d Inbar, Efraim; Ningthoujam, Alvite Singh (2012). "Indo-Israeli Defense Cooperation in the Twenty-First Century". ResearchGate. pp. 20–24.
  101. ^ "From Bofors to Rafale: Dubious defence deals that rocked India". India Today. 2019. Archived from the original on 28 October 2021. Retrieved 4 April 2022.
  102. ^ "From Bofors to Rafale: Dubious defence deals that rocked India". India Today. 8 February 2019. Archived from the original on 28 October 2021. Retrieved 7 April 2022.
  103. ^ Yadav, Yatish (13 September 2018). "Exclusive: Two Indian businessmen linked to arms dealer Sudhir Choudhrie under investigation agencies' scanner". Firstpost. Archived from the original on 5 April 2022. Retrieved 5 April 2022.
  104. ^ a b Ramesh, PR (12 May 2016). "Indian Arms Dealers: The Defence Dynasty". Open The Magazine. Archived from the original on 26 January 2022. Retrieved 5 April 2022.
  105. ^ Singh, Ramindar; Badhwar, Inderjit (1986). "Lobbying for defence contracts is hard core, brutal and uncompromising". India Today. Archived from the original on 2 April 2022. Retrieved 5 April 2022.
  106. ^ Pandit, Rajat (2013). "India, the world's largest arms importer doesn't employ a single authorized agent". The Economic Times. Archived from the original on 6 April 2022. Retrieved 6 April 2022.
  107. ^ a b Ahmed, M. (21 April 1997). "Bofors Ghost Casts Shadow On Indian Sales Of Arms Majors". Business Standard India. Archived from the original on 6 April 2022. Retrieved 6 April 2022.
  108. ^ "Bofors scam: A timeline of the 31-year-old, Rs 1,437-cr India-Sweden deal". Business Standard India. 21 October 2017. Archived from the original on 6 April 2022. Retrieved 6 April 2022.
  109. ^ Doval, Nikita (13 January 2015). "The debate over defence middlemen". mint. Archived from the original on 2 April 2022. Retrieved 7 April 2022.
  110. ^ Singh, Ramindar; Badhwar, Inderjit (1986). "Lobbying for defence contracts is hardcore, brutal and uncompromising". India Today. Archived from the original on 2 April 2022. Retrieved 8 April 2022.
  111. ^ Srivastava, Mihir (15 November 2013). "'The Arms Lobby Is Very Strong'". Open The Magazine. Archived from the original on 4 December 2022. Retrieved 8 April 2022.
  112. ^ a b c d e Sarin, Ritu (28 October 2006). "Arms and the Men". The Indian Express. Archived from the original on 4 June 2022. Retrieved 3 July 2022.
  113. ^ a b Srivastava, Mihir (5 April 2012). "The Men Who Do Not Exist". Open The Magazine. Archived from the original on 11 November 2020. Retrieved 8 April 2022.
  114. ^ "Nationwide raids". The Economic Times. 2006. Archived from the original on 8 April 2022. Retrieved 8 April 2022.
  115. ^ Sagar, Pradip R. (23 October 2019). "Role of AgustaWestland middleman in anti-tank missile deal under lens". The Week. Archived from the original on 2 March 2023. Retrieved 2 March 2023.
  116. ^ a b "Indian-born Sudhir Choudhrie, son dropped from bribery probe into Rolls-Royce sales - Sunday Times". Reuters. Reuters. 7 September 2014. Archived from the original on 8 April 2022. Retrieved 8 April 2022.
  117. ^ PTI (2016). "CBI registers FIR against NRI arms dealer in Embraer deal". India Today. Archived from the original on 26 January 2022. Retrieved 8 April 2022.
  118. ^ IANS (1 February 2017). "Court accepts closure report in Barak missile deal". Business Standard India. Archived from the original on 30 October 2022. Retrieved 8 April 2022.
  119. ^ KK, Sruthijith (2012). "Agent Abhishek Verma: Is he a billionaire behind bars or a high-living poseur with a trail of debts?". The Economic Times. Archived from the original on 8 April 2022. Retrieved 8 April 2022.
  120. ^ Bhalla, Abhishek (2012). "CBI books arms dealer Abhishek Verma under Official Secrets Act". India Today. Archived from the original on 8 April 2022. Retrieved 8 April 2022.
  121. ^ "Court discharges Abhishek Verma in graft case". The Economic Times. 2017. Archived from the original on 8 April 2022. Retrieved 8 April 2022.
  122. ^ Canton, Naomi (4 March 2022). "bhandari: Extradition hearing begins for Indian arms dealer Sanjay Bhandari who has fled to UK - Times of India". The Times of India. Archived from the original on 8 April 2022. Retrieved 8 April 2022.
  123. ^ Canton, Naomi (2021). "Arms dealer Sanjay Bhandari extradition hearing fixed for February 2022 - Times of India". The Times of India. Archived from the original on 8 April 2022. Retrieved 8 April 2022.
  124. ^ "Chopper scam: Spotlight on Tyagis for allegedly acting as middlemen". The Economic Times. 2013. Archived from the original on 8 April 2022. Retrieved 8 April 2022.
  125. ^ a b "AgustaWestland VVIP Chopper Case: Delhi HC reserves order on British Citizen Christian Michel bail plea". ThePrint. 18 February 2022. Archived from the original on 8 April 2022. Retrieved 8 April 2022.
  126. ^ "Delhi HC dismisses bail plea of Christian Michel". Hindustan Times. 11 March 2022. Archived from the original on 8 April 2022. Retrieved 8 April 2022.
  127. ^ "Christian Michel Has Spent Five Years in Tihar Jail but There's No Word on when His Trial Will Begin". Archived from the original on 29 January 2024. Retrieved 29 January 2024.