India's Defence Exports Reach Record High

India's defence exports surged to Rs 23,622 crore in 2024-25, marking a 12.04% increase from the previous year. Prime Minister Modi and Defence Minister Singh lauded this growth, seeing it as a step towards self-reliance. India aims to hit Rs 50,000 crore by 2029.

In a significant achievement for India's defence sector, exports have reached a record Rs 23,622 crore (approximately USD 2.76 billion) in the fiscal year 2024-25, reflecting a growth of 12.04% from the previous year. Defence Minister Rajnath Singh highlighted these figures on Tuesday, commending the stakeholders involved.

Prime Minister Narendra Modi celebrated the accomplishment, describing it as a 'proud milestone' in India's journey toward self-reliance and global leadership in defence production. The strategic push has set a new target of Rs 50,000 crore in defence exports by 2029, signaling robust future growth.

The Defence Public Sector Undertakings (DPSUs) and private sectors significantly contributed to this success, experiencing a notable export surge of 42.85% and presenting Indian products' increasing global acceptability. The number of exporters and export authorisations issued have also increased markedly, supporting India's integration into the global supply chain.