Defence exports soars by 78% in Q1 of 2024-25

New Delhi: India’s defense export sector has seen remarkable growth, with a 78% increase in the first quarter of 2024-25 compared to the same period in the previous fiscal year. According to the Defence Ministry, exports surged to Rs 6,915 crore in Q1 of 2024-25, up from Rs 3,865 crore during the corresponding period of the previous year.

This impressive growth reflects the concerted efforts of India's defense industry, which includes both the private sector and Defence Public Sector Undertakings (DPSUs). The DPSUs have played a significant role in this success, contributing 60% of the total exports, while the private sector accounted for the remaining 40%. This balance highlights the increasing participation of private enterprises in India’s defense sector, which has traditionally been dominated by public sector entities.

The Ministry of Defence emphasized that this leap in exports is a testament to the country's unwavering commitment to the vision of Viksit Bharat (Developed India) and Aatmanirbharta (self-reliance) in defense. The growth is not just a numerical achievement but also a significant milestone in India's journey towards becoming a global defense exporter, fostering innovation, and achieving self-sufficiency in defense production.

In the last fiscal year, India set a record by achieving defense exports worth Rs 21,083 crore (approximately US$ 2.63 billion), marking a 32.5% increase over the previous fiscal year (2022-23), when exports stood at Rs 15,920 crore. This continuous upward trend in defense exports underscores India’s growing prowess in the global defense market and its strategic focus on building a robust and self-reliant defense manufacturing ecosystem.

The government’s initiatives, including policy reforms, export facilitation, and the promotion of indigenous defense manufacturing through the Make in India initiative, have significantly contributed to this growth. These efforts are not only aimed at enhancing India’s defense capabilities but also at positioning the country as a key player in the international defense market.

In addition to traditional defense products, the export portfolio now includes a diverse range of advanced technologies, including missile systems, surveillance systems, and various other defense equipment, showcasing India’s capability to produce high-end defense technologies.

The continued collaboration between the public and private sectors, along with the government’s supportive policies, is expected to further propel India’s defense exports in the coming years, reinforcing the nation’s role as a global defense supplier.