Mumbai, April 2 -- India's defence exports have reached an all-time high of Rs 23,622 crore (approx. US$ 2.76 billion) in the financial year (FY) 2024-25, marking a significant growth of 12.04% over the previous year. This milestone underscores the nation's rising global footprint in the defence sector and its growing role in international supply chains.
The Defence Public Sector Undertakings (DPSUs) have demonstrated remarkable progress, recording a 42.85% increase in exports and contributing Rs 8,389 crore, while the private sector accounted for Rs 15,233 crore. This upward trajectory highlights the increasing acceptance of Indian defence products worldwide.
Defence Minister Shri Rajnath Singh, through a post on X, lauded the stakeholders for their contribution to this achievement. He emphasised that under the leadership of Prime Minister Shri Narendra Modi, India is steadily advancing towards its ambitious target of Rs 50,000 crore in defence exports by 2029.
India's transformation from an import-heavy defence sector to a self-reliant industry has been driven by robust policy reforms, including streamlined industrial licensing and the removal of regulatory bottlenecks. The government's commitment to fostering a dynamic defence ecosystem has led to the export of ammunition, arms, sub-systems, and components to nearly 80 countries.
The Department of Defence Production issued 1,762 export authorisations in FY 2024-25, reflecting a 16.92% rise from the previous year, while the number of exporters increased by 17.4%. With continued policy support and an expanding global market, India is poised for further growth in its defence exports.
Published by HT Digital Content Services with permission from Construction World.