Defence Exports Surge to a Record high of Rs 23,622 crore, a Growth of 12.04%

Strong Growth in Defence Sector

India’s defence exports have reached an all-time high of ₹23,622 crore (approximately USD 2.76 billion) in the Financial Year (FY) 2024-25, marking a 12.04% increase from the previous year’s figure of ₹21,083 crore. This significant surge highlights India’s growing presence in the global defence market and its increasing self-reliance in military production.

DPSUs and Private Sector Drive Growth

The Defence Public Sector Undertakings (DPSUs) recorded a remarkable 42.85% increase, contributing ₹8,389 crore to the overall export figure. The private sector continued to play a dominant role, accounting for ₹15,233 crore in exports. Comparatively, in FY 2023-24, the DPSUs had exported ₹5,874 crore, while the private sector stood at ₹15,209 crore. This steady upward trend shows the global acceptance of Indian defence products. It highlights India’s expanding role in the international supply chain.

India’s March Towards ₹50,000 Crore Target

Defence Minister Rajnath Singh, through a post on X (formerly Twitter), congratulated industry stakeholders for achieving this milestone. He reiterated that India is making significant progress under Prime Minister Narendra Modi’s leadership. The goal is to reach ₹50,000 crore in defence exports by 2029.

Expanding Global Footprint

India has successfully transitioned from an import-dependent defence force to a nation increasingly focused on indigenous production and exports. India exported a diverse range of military equipment to nearly 80 countries in FY 2024-25. This equipment includes ammunition, weapon systems, sub-systems, and components.

To further streamline exports, the Department of Defence Production has improved its digital application process for export authorizations. In FY 2024-25, 1,762 export authorizations were granted, reflecting a 16.92% increase from the 1,507 approvals in the previous year. Additionally, the number of defence exporters grew by 17.4% during this period.

Government Policies Boosting Defence Exports

The government has introduced several key policy reforms to enhance the ease of doing business in the defence sector, including:

• Simplification of industrial licensing procedures
• Removal of parts and components from licensing requirements
• Extension of license validity periods
• Further simplification of Export Authorization procedures

These initiatives have significantly contributed to India’s defence manufacturing sector, positioning the country as an emerging global defence exporter.

International demand is increasing. Supportive government policies are in place. A strong domestic defence industry exists. India is on track to achieve its long-term export targets. It is reinforcing its position as a key player in global defence trade.