India’s defence exports have surged from Rs 686 crore in 2013-14 to Rs 23,622 crore in 2024-25 — marking a remarkable 34-fold increase over the past decaderead moreIn a big boost amid India-Pakistan conflict, India’s defence exports have surged from Rs 686 crore in 2013-14 to Rs 23,622 crore in 2024-25 — marking a remarkable 34-fold increase over the past decade.Defence Minister Rajnath Singh shared the news in a post on X, saying that India’s defence sector is witnessing unprecedented growth, propelled by the government’s Atmanirbhar Bharat initiative.STORY CONTINUES BELOW THIS AD“India’s defence sector is growing stronger than ever, driven by the spirit of Atmanirbhar Bharat. Defence exports have jumped from ₹686 crore in 2013-14 to ₹23,622 crore in 2024-25 — a 34-fold rise,” Singh wrote on X.This significant rise reflects India’s growing capabilities in indigenous defence manufacturing and its expanding footprint in the global defence market. The government’s push for self-reliance through policy reforms, private sector participation, and strategic partnerships has been central to this transformation.As part of its ‘Atmanirbhar’ and ‘Make in India’ plans, the government launched various schemes, including the production-linked incentive (PLI), in various sectors to make Indian manufacturers globally competitive, attract investments, enhance exports, integrate India into the global supply chain, and reduce dependency on imports.India’s defence manufacturing sector has reached historic highs, driven by the government’s sustained emphasis on the ‘Make in India’ initiative. This surge in domestic production has not only boosted national security but also delivered strong returns to investors in major public sector defence companies in recent years.The government continues to invest heavily in defence and aerospace, with multiple manufacturing hubs being established across the country. The latest milestone is the inauguration of a state-of-the-art BrahMos Aerospace Integration and Testing facility in Lucknow on Sunday, underscoring India’s growing technological capabilities.STORY CONTINUES BELOW THIS ADIn a sign of increasing global collaboration, several international defence firms have shared —or expressed interest in sharing — critical defence and aerospace technologies with India.According to the Ministry of Defence data, India exported a diverse range of items, including ammunition, weapons, subsystems, and components, to nearly 80 countries in the recently concluded financial year.Looking ahead, the government has set an ambitious target of achieving annual defence exports worth Rs 50,000 crore by 2029, aiming to cement India’s position as a major player in the global defence market.Indian defence sector stocks, which had recently corrected from their highs, have again been soaring over the past weeks, much of it due to the recent flare-up of tensions with Pakistan.The successful display of India’s indigenously developed systems against the adversary last week also lent support to the defence stocks basket.The latest conflict with Pakistan also alluded to the fact that it is critical to achieve self-reliance in defence manufacturing.The Nifty India Defence index has climbed over 30 per cent over the past three months, reflecting investor confidence in the strategic importance and commercial growth of India’s domestic defence sector.STORY CONTINUES BELOW THIS ADThe rise in indigenous defence manufacturing has also led to substantial returns for investors in major defence manufacturing PSUs over the past few years.With inputs from agenciesTagsIndiaEnd of Article
See original article –
Amid tensions with Pakistan, India’s defence exports see 34-fold jump over the past decade
