India's defense exports to reach ₹50,000 cr by FY2029
Business
India's defense exports are expected to hit ₹50,000 crore by FY2029, up from ₹38,400 crore in FY2026.
This boost is mostly thanks to homegrown technology like Akash missiles and BrahMos.
A Kotak report says competitive pricing, simpler export rules, and stronger global partnerships are helping India make its mark.
This boost is mostly thanks to homegrown technology like Akash missiles and BrahMos.
A Kotak report says competitive pricing, simpler export rules, and stronger global partnerships are helping India make its mark.
India local procurement crosses 70%
While the US made up half of India's defense exports between FY2019-24, countries like Armenia and those in Europe are now showing interest too.
Local buying has crossed 70% due to policy changes and import bans.
Plus, military drones are taking off: India could spend up to $30 billion on them over the next decade, with companies like Bharat Electronics set to benefit.
Local buying has crossed 70% due to policy changes and import bans.
Plus, military drones are taking off: India could spend up to $30 billion on them over the next decade, with companies like Bharat Electronics set to benefit.