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First Post
14-05-2025
- Business
- First Post
Amid tensions with Pakistan, India's defence exports see 34-fold jump over the past decade
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 read more In 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. 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. — रक्षा मंत्री कार्यालय/ RMO India (@DefenceMinIndia) May 14, 2025 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 AD In 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 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 AD The 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 agencies
News18
14-05-2025
- Business
- News18
India's Defence Exports Saw 34-Fold Increase To Rs 23,622 Crore Since Last Decade: Rajnath Singh
Last Updated: India's defence exports have increased from Rs 686 crore in the last decade to Rs 23,622 crore now, supplying a wide range of arms to 80 countries. Defence Minister Rajnath Singh on Wednesday said India's defence exports have increased 34-fold from Rs 686 crore in the last decade to Rs 23,622 crore in 2024-25, crediting Prime Minister Narendra Modi's vision of 'Atmanirbhar Bharat' for this achievement. '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's office said in a post on X. 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. — रक्षा मंत्री कार्यालय/ RMO India (@DefenceMinIndia) May 14, 2025 The rise in India's defence exports comes amid heightened tensions with Pakistan. As tensions soared over the Pahalgam terror attack last month, India launched Operation Sindoor on May 7, targeting terror camps in Pakistan and Pakistan-occupied Kashmir. Indian drones and missiles struck deep inside Pakistan, hitting nine terror camps and killing over a hundred terrorists. The Indian armed forces also retaliated to Pakistan's drone attacks by conducting precise strikes on 12 Pakistani air bases. India's successful military operation brought renewed attention to its indigenously developed weapons systems like Akash and BrahMos. In his address to the nation on Monday, PM Modi said Operation Sindoor proved the effectiveness of 'Made in India' defence equipment, and the world was now witnessing the arrival of Made in India arms as a formidable force in 21st-century warfare. The Defence Public Sector Undertakings (DPSUs) have shown a significant increase of 42.85% in their exports in the FY 2024-25, reflecting the growing acceptability of Indian products in the global market and the ability of the Indian defence industry to be a part of the global supply chain, according to an earlier Ministry of Defence (MoD) statement. A total of 1,762 Export Authorisation were issued in FY 2024-25 compared to 1,507 in the preceding year, registering a growth of 16.92%. The total number of exporters also grew by 17.4% in the same period. The Modi government has set an ambitious target of increasing defence exports to Rs 50,000 crore by 2029. The Government has brought in many policy reforms in the past few years to boost the Indian defence industry, such as simplification of industrial licensing procedure, removal of parts and components from the license regime, extending the validity period of the license, etc. First Published: May 14, 2025, 15:51 IST
