India's defence exports have significantly expanded, reaching a record ₹21,083 crore (approximately $2.63 billion) in the fiscal year 2023-24, marking a growth of 32.5% from the previous year. This surge reflects a 31-fold increase over the past decade, with exports now spanning around 100 countries globally, including major destinations such as the United States, France, and Armenia.

The United States is the largest importer of Indian defence components, primarily sourcing sub-systems and parts for aircraft and helicopters. France and Armenia follow closely, with Armenia being noted as the biggest client for finished weapon systems like the Akash air defence missiles and BrahMos cruise missiles.

India's defence exports portfolio include a wide range of products such as:

BrahMos supersonic cruise missiles

Akash air defence systems

Dornier-228 aircraft

Pinaka multi-launch rocket systems

Armoured vehicles and artillery guns

The Indian government has implemented various reforms to enhance defence production capabilities and ease export processes. These initiatives aim to achieve a target of ₹50,000 crore in defence exports by 2029, further solidifying India's position in the global defence market.

The defence sector has seen substantial growth due to geopolitical factors such as ongoing conflicts that have prompted countries to strengthen their military capabilities. This has led to a remarkable increase in demand for Indian defence products.

India's strategic push towards becoming a key player in the global defence market is evident through its expanding export reach and robust growth in production capabilities.

Agencies