India's military logistics exports..! Rs 42,500 crore sales..!?

Sowmiya Sriram
India's military logistics exports..! Rs 42,500 crore sales..!?
The central government has informed that military equipment worth Rs.42,499 crore has been exported since 2018-19. In this regard, Union minister of State for Defense ajay Bhatt's reply in the Rajya Sabha: In the last financial year 2021-22, defense logistics were exported to the tune of Rs 12,815 crore. Exports are Rs 1,387 crore in this financial year.
Exports decreased from Rs 10,746 crore in the last financial year 2018-19 to Rs 9,116 crore in the next year (2019-20). 8,435 crore in FY 2020-21. Military equipment was exported to 61 countries. In this, 6 types of items such as special chemicals, organisms, materials, tools, and technologies were exported. This is what the minister said.
In response to another question, ajay Bhatt said that the central government has taken continuous policy initiatives to encourage small and medium enterprises in the defense sector. He also said that under the defense procurement procedure, contracts up to Rs 100 crore are allotted to notable small and medium enterprises.
According to India's offset policy, foreign defense companies must spend 30 percent of the total value in india on contracts worth Rs 2,000 crore or more on equipment, technology transfer, research, and development activities.
Over the past few years, the central government has been taking steps to promote domestic defense manufacturing. It is noteworthy that in May 2020, the central government has given permission to raise the maximum limit for foreign investment in the defense sector from 49 percent to 74 percent automatically.
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