India’s defence exports jumped to a record high of Rs 23,622 crore in the Financial Year (FY) 2024-25—a 12.04 per ent increase from the previous FY’s Rs 21,083 crore.
The Defence Public Sector Undertakings (DPSUs) have shown a significant increase of 42.85 per cent in their exports in the FY 2024-25, indicating how defence-related products from India are becoming increasingly acceptable in the global markets. It also shows the ability of the Indian defence industry to be a part of the global supply chain.
The private sector and DPSUs have contributed Rs 15,233 crore and Rs 8,389 crore respectively in defence exports of 2024-25. This was Rs 15,209 crore and Rs 5,874 crore respectively in FY 2023-24
“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, wide range of items from ammunition, arms, sub-systems/systems and parts and components have been exported to around 80 countries in the just-concluded FY,” the defence ministry said in a release.
Steps initiated by the government in the past few years, including simplification of industrial licensing procedure, removal of parts and components from license regime, and extending the validity period of license among others, aided in boosting the Indian defence industry.
Defence Minister Rajnath Singh congratulated all the stakeholders on the achievement, saying India is marching towards achieving the target of increasing defence exports to Rs 50,000 crore by 2029.
