India’s defence exports have witnessed a dramatic 34-fold increase over the past decade, reflecting the success of the government’s ‘Atmanirbhar Bharat’ (self-reliant India) and ‘Make in India’ initiatives. Defence Minister Rajnath Singh’s office announced that India exported defence equipment worth ₹23,622 crore in 2024-25, up from a modest ₹686 crore in 2013-14.
In a post on X, the Defence Minister’s office declared: “India’s defence sector is growing stronger than ever, driven by the spirit of self-reliance and innovation.”
This surge has been enabled by government-led measures including Production-Linked Incentive (PLI) schemes, aimed at boosting competitiveness, attracting investments, and integrating India into global defence supply chains. These reforms have led to the establishment of multiple defence hubs and increasing foreign collaboration in defence and aerospace technologies.
India is now exporting a broad range of products — from ammunition and arms to subsystems, parts, and components — to nearly 80 countries, according to Ministry of Defence data.
The government has now set an ambitious target of ₹50,000 crore in annual defence exports by 2029, further expanding India’s global strategic footprint.
This boom in defence manufacturing has also been mirrored in market trends. The Nifty India Defence index has surged over 30% in the last three months, driven by escalating tensions with Pakistan and a successful demonstration of India’s indigenous defence capabilities.
The rising investor confidence and increased returns from public sector undertakings (PSUs) in the defence sector underscore the growing commercial viability and strategic importance of India’s push for defence self-sufficiency.
