India’s Defence Exports Hit Record High of Rs 23,622 Crore in FY 2024-25, Setting Sights on Rs 50,000 Crore by 2029.
Defence Public Sector Undertakings (DPSUs) and Private Sector Drive Significant Growth, Paving the Way for India’s Global Defence Presence.
New Delhi:
India’s defence exports have reached an all-time high, soaring to Rs 23,622 crore (approximately US$ 2.76 billion) in the financial year (FY) 2024-25, reflecting a robust growth of 12.04% compared to Rs 21,083 crore in FY 2023-24. This remarkable surge marks a significant milestone in India’s journey towards becoming a global player in the defence sector.
The increase in defence exports is a result of strong performances from both the Defence Public Sector Undertakings (DPSUs) and the private sector. DPSUs saw an impressive 42.85% growth, contributing Rs 8,389 crore to the total export figure. Meanwhile, the private sector also contributed significantly with Rs 15,233 crore, maintaining its leadership role in India’s defence export sector. In FY 2023-24, the corresponding figures were Rs 5,874 crore from DPSUs and Rs 15,209 crore from the private sector.
In a statement on social media platform X, Defence Minister Rajnath Singh congratulated all stakeholders for the achievement and highlighted India’s growing global prominence in defence exports. He further stated, “Under the leadership of Prime Minister Narendra Modi, India is marching towards the ambitious goal of achieving Rs 50,000 crore in defence exports by 2029.”
The figures underscore India’s transformation from a nation largely dependent on defence imports to one that is increasingly self-reliant and capable of producing and exporting a wide range of defence products. These exports include ammunition, arms, sub-systems, systems, and parts/components, with Indian defence products being delivered to around 80 countries during the FY 2024-25.
The Department of Defence Production has played a key role in facilitating this growth, with a dedicated portal for the application and processing of export authorisation requests. In FY 2024-25, 1,762 Export Authorisations were issued, compared to 1,507 in the previous year, marking a 16.92% growth. The number of exporters also rose by 17.4% during the same period, indicating a wider participation of Indian companies in the global defence market.
To support this growth, the Indian government has implemented a series of policy reforms to boost the defence industry. These include the simplification of industrial licensing procedures, the removal of parts and components from the licensing regime, and the extension of the validity period for licenses. Additionally, the Standard Operating Procedures (SOP) for the grant of export authorisation have been streamlined, with further provisions introduced to stimulate defence exports.
India’s defence sector is now positioned as a global supplier of cutting-edge military technologies, and with continued policy support, the country is poised to meet its ambitious goal of Rs 50,000 crore in defence exports by 2029, making it a key player on the world stage.
As India continues to enhance its self-reliance and indigenous production capabilities, the growth in defence exports will be crucial not only for national security but also for the country’s economic strength and international influence.
