India's Defence Exports Reaches a Record high of ₹23,622 Crore

India's defence exports have reached a record high of Rs 23,622 crore (approximately. USD 2.76 billion) in 2024-25, showing a 12.04 percent increase compared to the prior fiscal, stated Defence Minister Rajnath Singh. Prime Minister Narendra Modi celebrated the accomplishment as “proud milestone" in India's advancement in the defence manufacturing industry.

"This is indeed a proud milestone in our journey towards self-reliance and global leadership in defence manufacturing!" Modi said on X.

Singh also mentioned that the nation is set to reach the goal of Rs 50,000 crore in defence exports by 2029. India's defence exports for the year 2023-24 amounted to Rs 21,083 crore. "India's defence exports have surged to a record high of Rs 23,622 crore in the FY 2024-25," the defence minister said on 'X'.

The Defence Public Sector Undertakings (DPSUs) have reported a notable rise of 42.85 percent in their exports for 2024-25, as stated in an official release. It mentioned that the increase in DPSU's exports indicated the rising acceptance of Indian goods in the international market and the capability of the nation's defence sector to integrate into the global supply chain.

The defence ministry stated in the readout that the private sector and DPSUs contributed Rs 15,233 crore and Rs 8,389 crore, respectively, to defence exports for 2024-25. It noted that the relevant figures for 2023-24 were Rs 15,209 crore and Rs 5,874 crore, respectively.

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