India's defence exports have surged to record levels over the past decade, witnessing a 34-fold increase, according to the Defence Ministry. Defence Minister Rajnath Singh’s office, in a post on X, revealed that India exported defence goods worth Rs 23,622 crore in the financial year 2024-25, a significant leap from just Rs 686 crore in 2013-14.
The minister’s office stated, “India exported defence goods worth Rs 23,622 crore in 2024-25 -- a 34-fold rise as against just Rs 686 crore in 2013-14.” The post emphasised the impact of the government’s push for self-reliance through the 'Atmanirbhar Bharat' and 'Make in India' initiatives.
As part of these initiatives, the government has introduced several schemes, including the Production-Linked Incentive (PLI) scheme, aimed at making Indian manufacturers globally competitive, reducing import dependency, and integrating India into the global supply chain.
The push for domestic manufacturing has also led to substantial gains for investors in major defence manufacturing public sector undertakings (PSUs) over the past few years, as reflected in the performance of the Nifty India Defence index.
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The index has climbed over 30 per cent in the past three months, boosted by recent geopolitical tensions and the successful demonstration of India’s indigenous defence capabilities.
India’s defence manufacturing sector has been further strengthened by the establishment of several defence hubs and collaborations with global companies willing to share critical defence and aerospace technology. This push has resulted in the export of a wide range of items, including ammunition, arms, subsystems, and components to around 80 countries in the just-concluded financial year, according to Ministry of Defence data.
Looking ahead, the government has set an ambitious target to achieve annual defence exports worth Rs 50,000 crore by 2029, positioning India as a major global player in defence manufacturing.
The recent conflict with Pakistan has further underscored the importance of self-reliance in defence, highlighting the strategic and commercial value of indigenously developed systems. India’s defence sector has responded to this challenge, showcasing its capability to deliver advanced systems to meet the nation’s security needs.
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