India defence exports surge to Rs 38,424 crore

India’s defence exports have reached a record Rs 38,424 crore in the 2025-26 financial year, marking a significant increase from Rs 686 crore in 2013-14. Defence Minister Rajnath Singh stated that the nation has transitioned from meeting only domestic security needs to becoming an emerging power in global defence manufacturing.

Driven by initiatives like Aatmanirbhar Bharat and Make in India, domestic defence production rose to Rs 1.78 lakh crore in FY 2025-26. Public sector entities accounted for approximately 76 per cent of this production, while the private sector contributed 24 per cent. The government is currently targeting defence exports of Rs 50,000 crore by 2029.

To support military modernisation, the Defence Acquisition Council has approved projects worth over Rs 8.75 lakh crore in the past year. The defence budget has also seen substantial growth, rising from Rs 2.53 lakh crore in FY 2013-14 to Rs 7.85 lakh crore in FY 2026-27.