India's Defence Exports Soar to Historic High

India's defence exports reached a record Rs 23,622 crore in 2024-25, growing 12.04% over the previous year. Led by Defence Minister Rajnath Singh, the nation aims for a Rs 50,000 crore target by 2029. Both public and private sectors contribute significantly to this export growth.

India's defence exports have hit an unprecedented high of Rs 23,622 crore ($2.76 billion) in the fiscal year 2024-25, reflecting a 12.04% increase from the previous year. Defence Minister Rajnath Singh announced these figures, emphasizing the country's momentum towards achieving a targeted Rs 50,000 crore in exports by 2029.

The Defence Public Sector Undertakings (DPSUs) have notably boosted their export activities, with an increase of 42.85% observed this fiscal year. According to official sources, this surge underscores the growing global acceptance of Indian defence products and the nation's expanding footprint in the global supply chain.

Both the private sector and DPSUs played pivotal roles, contributing Rs 15,233 crore and Rs 8,389 crore respectively to the total exports for 2024-25. Additionally, the Defence Ministry highlighted a significant rise in the number of exporters and export authorizations issued over the year, marking India's transition towards self-reliance in defence production.

(With inputs from agencies.)