HOME > MARKETS > ECONOMY NEWS
  ECONOMY NEWS
ECONOMY
India's defence exports surge to record high of Rs 23,622 crore in FY25: Rajnath Singh
Apr-02-2025

Defence Minister Rajnath Singh has said that India's defence exports have surged to a record high of Rs 23,622 crore (approximately $2.76 billion) in 2024-25 registering a 12.04 per cent growth over the previous fiscal. India's defence exports were Rs 21,083 crore in 2023-24. 

The minister said that the country is poised to achieve the target of Rs 50,000 crore in defence exports by 2029. He said under PM Narendra Modi's leadership, India is marching towards achieving the target of increasing defence exports to Rs 50,000 crore by 2029. 

The defence ministry said the Defence Public Sector Undertakings (DPSUs) have shown a significant increase of 42.85 per cent in their exports in 2024-25. It said the surge in the DPSU's exports reflected the growing acceptability of Indian products in the global market and the ability of the country's defence industry to be a part of the global supply chain. 

The private sector and DPSUs have contributed Rs 15,233 crore and Rs 8,389 crore respectively in defence exports of 2024-25. The corresponding 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. 


  RELATED NEWS >>