India's Defence Industry On The Global Stage: Exports Rises By 12 Per Cent To Hit Record High Of Rs 23,622 Crore In FY25

India's defence exports have reached a historic high of Rs 23,622 crore (~$2.76 billion) in the Financial Year (FY) 2024-25, marking a 12.04 per cent increase compared to the previous year.

This achievement marks a growth of Rs 2,539 crore from the FY 2023-24, when the figure stood at Rs 21,083 crore.

"The Defence Public Sector Undertakings (DPSUs) have shown a significant increase of 42.85 per cent in their exports in the FY 2024-25 reflecting the growing acceptability of Indian products in the global market and the ability of the Indian defence industry to be a part of the global supply chain," the Ministry of Defence said.

The private sector also contributed substantially, registering exports worth Rs 15,233 crore.

"The private sector and DPSUs have contributed Rs 15,233 crore and Rs 8,389 crore respectively in defence exports of 2024-25, whereas the corresponding figures for FY 2023-24 were Rs 15,209 crore and Rs 5,874 crore respectively," the ministry added.

Defence Minister Rajnath Singh expressed his congratulations to all stakeholders, crediting the success to the leadership of Prime Minister Narendra Modi.

"India’s defence exports have surged to a record high of Rs 23,622 crore in the FY 2024-25. An impressive growth of Rs 2,539 crore or 12.04 per cent has been registered in the just-concluded FY over the defence exports figures of FY 2023-24, which were Rs 21,083 crore," he said.

He emphasised that India is on track to achieve the ambitious target of Rs 50,000 crore in defence exports by 2029.

"I congratulate all stakeholders on this significant achievement. Under PM Shri Narendra Modi’s leadership India is marching towards achieving the target of increasing defence exports to Rs 50,000 crore by 2029," he added.

The ministry said that India has evolved from a largely import-dependent military force to the one increasingly focused on self-reliance and indigenous production.

"In a major boost to defence exports, wide range of items from ammunition, arms, sub-systems/systems and parts & components have been exported to around 80 countries in the just-concluded FY," the ministry added.

The ministry said that the Department of Defence Production has a dedicated portal for application and processing of export authorisation requests, and 1,762 Export Authorisation were issued in FY 2024-25 compared to 1,507 in the preceding year, registering a growth of 16.92 per cent.

The total number of exporters also grew by 17.4 per cent in the same period, it added.

Further, the ministry said that many policy reforms have been brought-in by the government in the past few years to boost the Indian defence industry such as simplification of industrial licensing procedure, removal of parts and components from license regime, extending the validity period of license etc.

In addition, SOP for grant of Export Authorisation was further simplified, and more provisions were added in the last financial year to boost exports from the country, it added.

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