India's Defence exports surge to Rs 23,622 crore in FY 2024-25
India's defence exports have reached a record level of Rs 23,622 crore in FY 2024-25, with DPSUs registering a significant growth of 42.85%. This reflects the growing participation of the Indian defence industry in the global capability and supply chain.
India's economy is undergoing swift expansion and is anticipated to rank as the third largest globally within a few years. The nation's imports and exports are also rising considerably in the fiscal year 2024-25. Notably, defense exports have reached an unprecedented high of Rs 23,622 crore. Compared to the defense export numbers for FY 2023-24, there has been a rise of Rs 2,539 crore, marking a growth of 12.04%. The amount for FY 2023-24 was Rs 21,083 crore.
DPSU's Significant Contribution
Defence Public Sector Undertakings (DPSUs) have achieved a 42.85% increase in exports for the fiscal year 2024-25, highlighting the expanding potential of Indian products in the international market and the Indian defence industry's capability to join the global supply chain. The private sector and DPSUs have contributed Rs 15,233 crore and Rs 8,389 crore, respectively, to the defence exports of 2024-25, compared to Rs 15,209 crore and Rs 5,874 crore in the fiscal year 2023-24.
Defence exports to reach Rs 50,000 crore
Defense Minister Rajnath Singh extended his congratulations to all involved parties for reaching this milestone. He stated that under Prime Minister Narendra Modi's leadership, India is progressing towards the goal of boosting defense exports to Rs 50,000 crore by 2029.