India’s defence exports hit record Rs 23,622 cr in 2024-25

Guwahati, April 2: India’s defence exports have reached an all-time high of Rs 23,622 crore (approximately $2.76 billion) in the fiscal year 2024-25, marking an impressive 12.04% growth from the previous year, Defence Minister Rajnath Singh announced on Tuesday.

The country is now on track to achieve Rs 50,000 crore in defence exports by 2029, aligning with its vision of becoming a global hub for indigenous military production.

In the previous fiscal year (2023-24), India recorded Rs 21,083 crore in defence exports. The latest figures show a Rs 2,539 crore increase, highlighting the growing international demand for Indian-made defence equipment.

Taking to social media platform X, Defence Minister Singh said, "India's defence exports have surged to a record high of Rs 23,622 crore in FY 2024-25. An impressive growth of 12.04% has been registered over the previous fiscal."

He also congratulated all stakeholders, stressing that under Prime Minister Narendra Modi's leadership, India is steadily advancing towards its goal of Rs 50,000 crore in defence exports by 2029.

The Defence Public Sector Undertakings (DPSUs) played a key role in this surge, witnessing a 42.85% increase in exports compared to the previous fiscal. This underscores the growing acceptance of Made-in-India defence products in international markets.

In 2024-25, the private sector contributed Rs 15,233 crore, while DPSUs accounted for Rs 8,389 crore in exports. In contrast, the figures for 2023-24 were Rs 15,209 crore and Rs 5,874 crore, respectively.

The Ministry of Defence highlighted that India has evolved from being heavily import-dependent to a self-reliant producer, exporting a wide range of defence equipment, including ammunition, arms, sub-systems, and components to nearly 80 countries.

The Ministry further noted that a dedicated portal under the Department of Defence Production has streamlined export authorisation requests.