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Defence exports grow by over 100% in 2018-19

India’s defence exports have increased by over 100% YoY to reach Rs 10,745 crore in 2018-19 from Rs 4,682 crore
in 2017-18 , led by policy liberalisation and access to the US market. The Defence Ministry is now looking to further accelerate growth through a new export license plan that will enable Indian companies to export specified equipment to identified nations. US has been the largest export market with Rs 5,000 crore worth of exports, followed by Israel and the European Union. An ‘Open General Export Licence’ that is expected to be introduced in a few weeks will give Indian companies greater global access through blanket permissions on select items.