HOME > MARKETS > ECONOMY NEWS
  ECONOMY NEWS
ECONOMY
Indian defence exports witness 34-fold jump over past decade: Rajnath Singh
May-15-2025

Indian defence exports being at all-time highs, the Defence Minister Rajnath Singh has said that India exported defence goods worth Rs 23,622 crore in 2024-25, a 34-fold rise as against just Rs 686 crore in 2013-14. The defence minister asserted that India's defence sector is growing stronger than ever, driven by the spirit of a self-reliant or Atmanirbhar Bharat.

As part of its 'Atmanirbhar' and Make in India plans, the government launched various schemes, including the production-linked incentive (PLI), in various sectors to make Indian manufacturers globally competitive, attract investments, enhance exports, integrate India into the global supply chain, and reduce dependency on imports.

The defence minister highlighted that country’s defence production has surged to historic highs led by government's thrust on the Make in India initiative. Besides, this rise in defence manufacturing has also led to substantial returns for investors in major defence manufacturing PSUs over the past years. He added the government is investing heavily in defence and aerospace manufacturing, with several defence hubs being set up and many global companies have either shared or shown intent to share critical defence and aerospace knowledge with India.

The Ministry of Defence data showed that wide range of items, including ammunition, arms, subsystems/systems, and parts and components, were exported to around 80 countries in the just-concluded financial year. Further, the government is now aiming for annual exports worth Rs 50,000 crore by 2029, thus strengthening its global footprint. 

  RELATED NEWS >>