India’s defence exports have reached a record high, growing 34 times over the last 10 years. According to a post by Defence Minister Rajnath Singh’s office on X, “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 ministry highlighted this achievement as a major step forward in India’s journey toward becoming self-reliant, a goal strongly supported by the government’s Atmanirbhar Bharat campaign.
Self-Reliance and Make in India Fuel Growth
The sharp growth in defence exports is tied to the government’s push for self-sufficiency through initiatives like ‘Make in India’ and Atmanirbhar Bharat. As part of these plans, several schemes have been introduced, including the Production-Linked Incentive (PLI). These schemes are aimed at making Indian manufacturers more competitive globally, bringing in foreign investments, increasing exports, reducing imports, and integrating the country into the international supply chain.
Due to this push, India’s defence manufacturing has reached unprecedented levels. This growth has also helped boost the stock market value of public sector defence companies, delivering strong returns for investors.
India Expands Global Defence Footprint
Government data shows that India exported a wide variety of defence items during the last financial year. These included arms, ammunition, sub-systems, systems, spare parts, and components. These items were sold to about 80 countries around the world.
Looking ahead, the government has set an ambitious goal — it wants to achieve defence exports worth Rs 50,000 crore per year by 2029. This target aims to solidify India’s position in the global defence market.
Global Collaborations and Knowledge Sharing
India is also attracting interest from international defence firms. Many global companies are either already collaborating or planning to share important technologies in defence and aerospace with India. At the same time, the government is building multiple defence industrial hubs and investing significantly in defence and aerospace sectors.
Market Confidence and Geopolitical Tensions
In recent weeks, shares of Indian defence companies have surged again, rebounding from a previous drop. This comes after rising tensions with Pakistan and the successful use of India’s home-grown defence systems in response. These events have increased investor confidence and reminded policymakers of the importance of being self-reliant in the defence sector.
Over the last three months alone, the Nifty India Defence index has jumped over 30 percent, reflecting renewed belief in both the strategic and financial potential of India’s domestic defence industry. Over the past few years, investors in defence public sector units (PSUs) have enjoyed strong returns thanks to the sector’s consistent growth.
