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India’s defence exports have reached an all-time high, witnessing a remarkable 34-fold increase over the past decade, according to Defence Minister Rajnath Singh.
“India exported defence goods worth Rs. 23,622 crore in 2024–25, compared to just Rs. 686 crore in 2013–14,” his office stated in a post on X. The Minister emphasized that the dramatic rise underscores the growing strength of India’s defence sector, fuelled by the vision of Atmanirbhar Bharat (self-reliant India).
Driven by the Make in India initiative and strategic policy interventions such as Production-Linked Incentive (PLI) schemes, the government has sought to enhance the global competitiveness of Indian manufacturers, boost exports, attract foreign investments, and reduce dependency on imports.
The results are now evident: Defence production has soared, delivering substantial returns for investors in public sector undertakings (PSUs) engaged in defence manufacturing.
India’s defence and aerospace ecosystem is also expanding rapidly, with the establishment of multiple defence hubs and increased collaboration with global players, many of whom have already shared or expressed willingness to share critical technologies with Indian counterparts.
In FY 2024–25, India exported a wide array of defence items—including ammunition, weapons, systems/subsystems, and components—to nearly 80 countries, according to data from the Ministry of Defence.
The government has now set an ambitious target of achieving annual defence exports of Rs.50,000 crore by 2029, aiming to bolster India’s footprint in the global defence market.
Market sentiment around the defence sector has also been buoyant. The Nifty India Defence Index has surged by over 30% in the past three months, reflecting rising investor confidence. The recent escalation in tensions with Pakistan, coupled with the effective performance of indigenously developed defence systems, has further reinforced the strategic and commercial value of self-reliance in defence manufacturing.
