India’s defence exports have reached an all-time high of ₹23,622 crore in the financial year 2024-25, recording a 12.04% increase from ₹21,083 crore in the previous year. The Ministry of Defence announced that the country is steadily progressing towards its ambitious target of ₹50,000 crore in defence exports by 2029. Defence Minister Rajnath Singh credited this growth to major policy initiatives, reforms, and a strong push for self-reliance in the sector.
The defence public sector undertakings (DPSUs) witnessed a remarkable 42.85% increase in exports, contributing ₹8,389 crore in 2024-25, up from ₹5,874 crore last year. Meanwhile, the private sector maintained steady growth, exporting defence products worth ₹15,233 crore. The surge in DPSU exports reflects the increasing global acceptance of Indian-made military equipment and the country’s growing footprint in the global arms market.
India has evolved from being heavily dependent on defence imports to becoming a key player in indigenous manufacturing. In the last financial year, Indian defence firms exported arms, ammunition, sub-systems, and critical components to nearly 80 countries. The number of export authorizations issued in FY 2024-25 rose by 16.92% to 1,762, while the total number of defence exporters grew by 17.4%, further highlighting the industry’s expansion.
Several government-led initiatives have played a crucial role in driving this growth. The simplification of industrial licensing procedures, the removal of parts and components from the licensing regime, and streamlined export authorization processes have significantly boosted the sector. Additionally, the government has enforced phased import bans on various weapons and systems to promote domestic production. The increase in foreign direct investment (FDI) from 49% to 74% and the creation of a dedicated budget for locally made defence equipment have further strengthened the industry.
With defence exports reaching record highs and continued policy support, India is well on its way to becoming a major global defence exporter. The steady growth in exports and expanding international collaborations indicate that the country is poised to achieve its ₹50,000 crore export target within the next five years, cementing its position as a rising force in the global defence industry.
