India on track to meet ₹50,000cr defense export target
What's the story
India is on track to achieve its defense export target of ₹50,000 crore by 2030. The ambitious goal is largely driven by the rising demand from various countries amid changing geopolitical dynamics. In an exclusive interview with Moneycontrol, Defense Secretary Rajesh Kumar Singh expressed confidence in meeting this target, given the impressive performance in recent years.
Export growth
Reached almost ₹39,000cr last year
Singh highlighted that India came close to the ₹39,000 crore mark in defense exports last year.
He said, "Yes, this is a good time for defense exports. We reached almost ₹39,000 crore last year and we feel that ₹50,000 crore by 2030 will be easily achievable."
The statement underscores the country's growing prowess in the global defense market.
Industry participation
145 companies exporting defense equipment
Singh revealed that as many as 145 companies are engaged in exporting a wide range of defense equipment.
This includes everything from bulletproof jackets and ballistic helmets to more complex systems such as BrahMos or Akash surface-to-air missiles.
The involvement of so many players indicates a robust and diversified Indian defense export industry.
PSU involvement
Indian PSUs getting many export orders
Singh also noted that India's defense public sector units (PSUs) are receiving a lot of export orders, especially for standard artillery shells and ammunition.
He attributed the recent growth in Indian defense exports mainly to public sector exports taking advantage of global geopolitical conflicts that have prompted many countries to re-arm.
This further emphasizes the strategic role of Indian PSUs in the global defense market.
Export momentum
Defense exports reaching critical mass
Singh said, "During 2025-26, we had 1,800 export authorizations to over 100 countries. And as I said about 145 different companies are doing it."
He added that defense exports are now reaching a critical mass like the defense industry in general. This shows a growing acceptance and demand for Indian defense products on the global stage.
Export potential
Potential contracts for Dornier, BrahMos missiles
Singh emphasized the high potential for getting more export orders where technology readiness levels are high, especially in platforms like Dornier aircraft and BrahMos missiles.
He said there are potentially three finalized orders for BrahMos missiles - Philippines in the first phase, and Indonesia and Vietnam are on the verge of final contracts.
This highlights India's growing influence as a reliable defense supplier to other nations.
Export growth
Defense exports grew over 5,500% in last 12 years
India's defense exports have grown from ₹686 crore in FY 2013-14 to ₹38,424 crore in FY 2025-26. This is a whopping growth of over 5500% in the last 12 years.
The impressive rise has been fueled by the Make in India initiative and the push for self-reliance in defense manufacturing, as per a government statement.