India's defence exports hit record ₹23,622 crore in FY 2024-25, up 12.04%

India’s defence exports soared to an all-time high of ₹23,622 crore in the fiscal year 2024-25, up 12.04% from the previous year’s figure of ₹21,083 crore, defence minister Rajnath Singh said on Tuesday.

Defence Public Sector Undertakings (DPSUs) led the charge by registering a remarkable 42.85% rise in exports, according to an official readout.

In FY 2024-25, DPSUs contributed ₹8,389 crore to the export tally, up from ₹5,874 crore in FY 2023-24.

The private sector, meanwhile, maintained a steady performance, contributing ₹15,233 crore this year compared to Rs 15,209 crore in the previous fiscal.

In a post on X, Rajnath Singh wrote, “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% has been registered in the just-concluded FY over the defence exports figures of FY 2023-24, which were Rs 21,083 crore.

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

In FY 2024-25, India exported a diverse range of defence items, including ammunition, arms, subsystems, and components, to around 80 countries.

The Department of Defence Production reported a 16.92% increase in export authorisations, issuing 1,762 permits in FY 2024-25 compared to 1,507 the previous year. The number of exporters also rose by 17.4%, supported by a dedicated online portal streamlining the application and processing of export requests.

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

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