In a highly competitive international defence market, India has recently made its mark and has huge opportunity to become a significant player. India’s defence exports have reached to an all-time high of approximately ₹16,000crore (US $ 1.94 billion) in the FY 2022-2023, a notable ten-fold increase from the FY 2016–17, when exports were merely ₹1,521 crore (US $ 184.59 million). This is a significant step towards India’s stated goal of exporting ₹35,000 crore (US $ 5 billion) worth of aerospace and defence equipment annually by 2025 and becoming a net defence exporter.