Defence Minister Rajnath Singh announced on Tuesday that India’s defence exports reached an all-time high of Rs 23,622 crore (approximately $2.76 billion) in 2024-25, marking a 12.04% increase from the previous fiscal.
Singh highlighted that India is on track to achieve its target of Rs 50,000 crore in defence exports by 2029.
In comparison, the country’s defence exports stood at Rs 21,083 crore in 2023-24.
Taking to X, Rajnath Singh posted, “India’s defence exports have surged to a record high of Rs 23,622 crore in the FY 2024-25. An impressive growth of Rs 2,539 crore or 12.04% has been registered in the just-concluded FY over the defence exports figures of FY 2023-24, which were Rs 21,083 crore.”
“I congratulate all stakeholders on this significant achievement. Under PM Shri @narendramodi’s leadership India is marching towards achieving the target of increasing defence exports to Rs 50,000 crore by 2029,” he further added.
According to an official statement, Defence Public Sector Undertakings (DPSUs) recorded a remarkable 42.85% increase in exports in 2024-25.
The statement noted that this rise highlights the growing global recognition of Indian defence products and the nation’s expanding role in the international supply chain.
The private sector contributed Rs 15,233 crore, while DPSUs accounted for Rs 8,389 crore of the total exports in 2024-25.
In the previous fiscal year, these figures stood at Rs 15,209 crore and Rs 5,874 crore, respectively.
The ministry stated, “India has evolved from a largely import-dependent military force to one increasingly focused on self-reliance and indigenous production.”
“In a major boost to defence exports, a wide range of items from ammunition, arms, sub-systems/systems and parts & components have exported to around 80 countries in the just-concluded financial year,” it further added.
The Department of Defence Production has also streamlined the export authorization process through a dedicated portal.
A total of 1,762 export authorizations granted in 2024-25, compared to 1,507 in the previous year.
Additionally, the number of exporters increased by 17.4% during this period.
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