India’s Defence Exports Surge 34-Fold in a Decade, Cross Rs 23,600 Crore

India’s defence exports have skyrocketed over the past decade, growing 34 times from Rs 686 crore in 2013-14 to Rs 23,622 crore in 2024-25. Defence Minister Rajnath Singh highlighted this milestone, attributing the surge to the government’s push for self-reliance under the Atmanirbhar Bharat initiative.  

Major Growth Drivers  
- The Make in India program has fueled domestic defence manufacturing, attracting global partnerships and investments  
- India now exports arms, ammunition, subsystems, and components to nearly 80 countries, strengthening its global footprint  
- Defence Public Sector Undertakings recorded a 42.85 percent growth in exports, contributing Rs 8,389 crore in FY25  

Future Targets and Market Impact  
- The government aims to achieve Rs 50,000 crore in annual defence exports by 2029, further cementing India’s position in the global arms trade  
- Increased defence production has boosted investor confidence, with the Nifty India Defence index climbing over 30 percent in the past three months  
- The recent military standoff with Pakistan has underscored the importance of self-reliance in defence manufacturing, driving further innovation and expansion  

India’s defence sector continues to evolve, with policy reforms and strategic investments ensuring sustained growth in exports and technological advancements.  

Sources: Economic Times, Moneycontrol, MSN News, Upstox Business Desk