Finance Minister Nirmala Sitharaman announced a remarkable transformation in India’s defence sector under Prime Minister Narendra Modi’s leadership. Over the last ten years, defence exports have surged by more than 1,100%, rising from ₹1,941 crore in 2014 to an unprecedented ₹23,662 crore in 2024. With military hardware now being supplied to over 100 countries, India has established itself as a trusted partner in global security and peace.
The transformation has been driven by a strong focus on indigenous production. In the financial year 2025-26, 75% of the defence capital acquisition budget is dedicated to domestic manufacturing. Additionally, over 5,000 new items have been added to the defence indigenisation list under the Aatmanirbharta campaign. This strategic shift has bolstered domestic capabilities and reduced dependence on foreign systems.
India’s overall defence production has similarly witnessed exponential growth from a modest ₹43,000 crore a decade ago to a record ₹1,46,000 crore today, with the private sector contributing over ₹32,000 crore. The Make in India initiative has played a pivotal role in this progress, as demonstrated during Operation Sindoor. The operation, which highlighted the effectiveness of indigenous systems, showcased India’s ability to decisively counter hostile forces.
FM Sitharaman also highlighted key foreign policy and national security successes. Notable among these was Operation Sindoor, which resulted in missile strikes on terrorist bases, claiming the lives of over 100 militants. The government’s proactive approach has also ensured the safe evacuation of more than 22,500 Indians from Ukraine and around 3,000 from conflict-stricken Sudan. Furthermore, India played a crucial role during the Covid-19 pandemic by supplying over 30 crore vaccine doses to more than 100 countries, reinforcing its position as a global humanitarian player.
This comprehensive transformation in defence exports and production not only strengthens national security but also positions India as a major player on the global defence stage.