India's Defence Exports Reach ₹38,424 Crore in FY26; ₹50,000 Crore Target Set for 2030

India expects its defence exports to reach ₹50,000 crore by 2030, Defence Secretary Rajesh Kumar Singh said, as per The Moneycontrol news report.  

He noted that the defence exports were close to ₹39,000 crore in FY2025-26 and said the target could be achieved given the pace of export orders in recent years. 

Government data shows defence exports increased from ₹686 crore in FY2013-14 to ₹38,424 crore in FY2025-26. The increase comes as India has expanded domestic manufacturing and reduced dependence on imported defence equipment. 

Companies Exporting Defence Equipment 

Singh noted that around 145 Indian companies are exporting defence products. These include bulletproof jackets, ballistic helmets, artillery systems, missile systems and aircraft.  

During FY2025-26, India issued nearly 1,800 export authorisations covering more than 100 countries. He said defence public sector undertakings have also recorded higher exports, particularly of artillery shells and ammunition, as several countries increased defence purchases. 

Orders From Overseas Buyers 

The Defence Secretary said there is scope to expand exports of products such as the BrahMos missile, Akash surface-to-air missile system and Dornier aircraft. 

The Philippines has already signed a contract for the BrahMos missile system. Singh said agreements with Indonesia and Vietnam are close to completion.  

He also referred to exports of Akash systems and artillery equipment to Armenia, where Indian defence products have secured orders. 

Domestic Manufacturing 

According to the government, about 65% of defence equipment is now manufactured within the country. Earlier, around 65-70% of defence requirements were met through imports.  

The government noted that domestic production has increased under its push to strengthen local manufacturing. 

Read More: RBI Governor Sanjay Malhotra Highlights Indian Banks Raised $32 Billion Under Dollar-Inflow Schemes! 

Conclusion 

Defence exports have grown from a low base to record levels over the past 12 years, supported by higher domestic manufacturing and rising overseas orders. The government's next target is to take exports to ₹50,000 crore by 2030. 

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