Defence exports, which have been actively promoted by the government over the past decade, grew at over 12%, with strong demand for Indian manufactured explosives like TNT, RDX and HMX in the global market. Sources said that most Indian explosives and ammunition manufacturing capacity has been fully booked for the next three years, with at least five more plants coming up within the private sector in the coming months.
State-owned defence public sector units have recorded a 42.8% surge in exports, reaching a high of ₹8,389 crore in the financial year. A large part of these too are for explosives and parts for ammunition, particularly for artillery which is in big demand in Europe. Reflecting the growing number of defence manufacturing companies in India, the total number of exporters has also grown by 17.4% in the last year.
