India’s defence exports have grown significantly over the past decade, rising from just ₹686 crore in 2013–14 to ₹23,622 crore in 2024–25. This marks a 34-fold increase and highlights India’s rapid rise in the global defence manufacturing sector.
This growth shows that India is not just focusing on self-reliance but is also becoming a trusted exporter in the international defence market.
In 2024–25, private companies contributed ₹15,233 crore to total defence exports, while Defence Public Sector Undertakings (DPSUs) accounted for ₹8,389 crore. The DPSUs also recorded a 42.85% year-on-year increase in export value, showing strong global interest in Indian-made defence products.
The number of authorised defence exports also went up by 16.92%, and the number of exporters increased by 17.4%, confirming India’s growing strength in this field.
India now exports defence equipment to nearly 80 countries and has set a target of ₹50,000 crore in defence exports by 2029.
The growth in exports has been strongly supported by government policies that encourage local manufacturing. Initiatives like “Atmanirbhar Bharat” (Self-Reliant India) have helped private and public sector players improve their production and build a global presence.
India’s defence sector is being transformed from an importer to a major global supplier of high-quality defence systems and equipment.
The positive news has also boosted defence stocks in the market. On May 14, defence stocks like Cochin Shipyard, Garden Reach Shipbuilders & Engineers (GRSE), and Mazagon Dock surged up to 17%, lifting the Nifty India Defence index over 4% in a single trading session.
Over the past 30 days, shares of Mazagon Dock rose by 23%, while Paras Defence and Data Patterns have gone up as much as 47%.
In another key development, Cochin Shipyard announced a new partnership with Drydocks World to develop ship repair clusters. This project aims to create world-class ship repair facilities for Indian and international fleets.
The initial phase will begin at the Kochi dockyard, with expansion plans to cover other parts of the country. This partnership will boost India’s marine engineering and offshore fabrication capabilities.
India’s defence export journey reflects its strong push for self-reliance and innovation. With rising global demand, supportive policies, and active participation from the private sector, India is well on its way to becoming a major defence manufacturing and exporting hub.
Read more on: Best Defence Stocks in May 2025 5Y CAGR Basis: Mazagon Dock, HAL, & More
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.
Published on: May 14, 2025, 12:01 PM IST
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