India’s Defence Exports Hit Record High
India’s defence exports have reached an unprecedented Rs 23,622 crore (approximately US$ 2.76 billion) for the financial year 2024-25, marking a significant increase of 12.04% from the previous year’s figures. This growth, amounting to Rs 2,539 crore, underscores the rising global acceptance of Indian defence products. The Defence Public Sector Undertakings (DPSUs) have played a pivotal role in this surge, showcasing the country’s growing capabilities in the global defence supply chain.
Significant Growth in Defence Exports
The latest figures reveal a remarkable increase in India’s defence exports, which have surged to Rs 23,622 crore in FY 2024-25. This represents a growth of Rs 2,539 crore compared to the Rs 21,083 crore recorded in FY 2023-24. The Defence Public Sector Undertakings (DPSUs) have particularly excelled, achieving a staggering 42.85% increase in their exports. In FY 2024-25, the private sector contributed Rs 15,233 crore, while DPSUs accounted for Rs 8,389 crore. In contrast, the previous fiscal year saw the private sector at Rs 15,209 crore and DPSUs at Rs 5,874 crore. This upward trend highlights the increasing competitiveness of Indian defence products in the international market.
Government Support and Policy Reforms
The Indian government has implemented several policy reforms to bolster the defence industry. These reforms include simplifying the industrial licensing process, removing certain components from the licensing regime, and extending the validity period of licenses. Additionally, the Standard Operating Procedures (SOP) for granting export authorizations have been streamlined, making it easier for companies to navigate the export process. In FY 2024-25, the Department of Defence Production issued 1,762 export authorizations, a notable increase from 1,507 in the previous year, reflecting a growth of 16.92%. The number of exporters also rose by 17.4%, indicating a thriving defence export sector.
Global Reach and Future Aspirations
India’s defence exports now encompass a wide range of products, including ammunition, arms, subsystems, and components, reaching approximately 80 countries in the last fiscal year. This shift from a largely import-dependent military force to one focused on self-reliance and indigenous production is a significant achievement for the nation. Raksha Mantri Shri Rajnath Singh expressed his congratulations to all stakeholders involved in this success, emphasizing the government’s commitment to increasing defence exports to Rs 50,000 crore by 2029 under the leadership of Prime Minister Shri Narendra Modi. This ambitious target reflects India’s aspirations to become a key player in the global defence market.
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