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Pune: India’s defence exports have reached a record high of ₹23,622 crore (approximately $2.76 billion) in the Financial Year (FY) 2024-25, reflecting a 12.04% increase from ₹21,083 crore in FY 2023-24. The surge highlights the nation’s growing self-reliance and expanding footprint in the global defence market.
The Defence Public Sector Undertakings (DPSUs) played a crucial role in this growth, contributing ₹8,389 crore—an impressive 42.85% increase from the previous year’s ₹5,874 crore. Meanwhile, the private sector maintained a strong presence, recording exports worth ₹15,233 crore, up from ₹15,209 crore in FY 2023-24.
Defence Minister Rajnath Singh lauded the achievement, stating that under Prime Minister Narendra Modi’s leadership, India is steadily progressing toward its target of ₹50,000 crore in defence exports by 2029.
India has transformed from being heavily import-dependent to a nation focused on indigenous defence production. In FY 2024-25, Indian-made defence products—including ammunition, arms, systems, and components—were exported to nearly 80 countries.
The government’s policy reforms have played a key role in driving this growth. Measures such as simplifying the industrial licensing process, removing parts and components from the license regime, and extending the validity period of licenses have boosted the sector. Additionally, in FY 2024-25, the number of Export Authorisations issued rose to 1,762—up 16.92% from 1,507 in the previous year—while the total number of exporters increased by 17.4%.
With a robust policy framework and increasing global demand, India’s defence industry is on track to achieve new milestones in the coming years.
