Defense exports increased to a record level of Rs 23,622 crore in FY 2024-25, which is 12.04 percent more than 2023-24

With an increase of 42.85 percent, DPSU contributed to export of Rs 8,389 crore, the figure recorded Rs 15,233 crore in the private sector.

India led by Prime Minister Modi to achieve a target of Rs 50,000 crore by 2029: Defense Minister

Defense exports in the financial year 2024-25 increased to a record high of Rs 23,622 crore (US $ 2.76 billion). The recently ended financial year has registered a growth of Rs 2,539 crore or 12.04 percent in the recently ended financial year, compared to the financial year 2023-24 defense export data, which is Rs 21,083 crore.

Public undertakings of the defense sector (DPSU) have registered a significant increase of 42.85 percent in its exports in FY 2024-25. This reflects the increasing acceptance of Indian products in the global market and the ability of the Indian defense industry to become part of the global supply chain. The private sector and DPSU have contributed Rs 15,233 crore and Rs 8,389 crore respectively to the defense exports of 2024-25, while for FY 2023-24 the figure was Rs 15,209 crore and Rs 5,874 crore respectively.

Through a post on X, Defense Minister Shri Rajnath Singh congratulated all the stakeholders on achieving this achievement. He said that under the leadership of Prime Minister Shri Narendra Modi, India is moving towards achieving the target to increase defense exports up to Rs 50,000 crore by 2029.

India has developed a large -scale military force dependent on imports and has become more focused on self -reliance and indigenous production. Promoting defense exports, a wide range of goods such as ammunition, weapons, sub-systems/systems and parts such as parts and components has been exported to about 80 countries in the recently ended financial year.

The Department of Defense Production has a dedicated portal for export authority applications and related procedures and 1,762 export authorities were issued in the financial year 2024-25, which is 1,507 to 16.92 percent of the previous year and the total number of exporters also increased by 17.4 percent during the same period.

The government has made several policy reforms to promote the Indian defense industry over the years, including simplifying the industrial licensing process, removing the total parts and components from the licensing system, increasing the license period, etc. In addition, the SOP has been further simplified for export permission and more provisions have been added in the last financial year to promote the country’s exports.