India has touched a historic level of ₹ 23,622 crore (US $ 2.76 billion) (US $ 2.76 billion), growing unprecedented performance in the field of defense exports in an unprecedented performance in the financial year (FY) 2024-25. FY 2023-24 has recorded an impressive growth of ₹ 2,539 crore (12.04%) as compared to ₹ 21,083 crore.

DPSU and private sector role

Defense Public Sector Undertakings (DPSUS) recorded a significant increase of 42.85% in FY 2024-25, showing the increasing acceptance in the global market of Indian defense products and the highest ability to be part of India’s global supply chain. This year, private sector contributed ₹ 15,233 crore to defense exports and DPSU contributed ₹ 8,389 crore, while in the financial year (2023-24) these figures were ₹ 15,209 crore and ₹ 5,874 crore respectively.

Defense minister’s response

Defense Minister Rajnath Singh posted on ‘X’ and congratulated everyone for this important achievement. He said that under the leadership of Prime Minister Modi, India is moving fast towards the target of raising defense exports to ₹ 50,000 crore by 2029.

Self -sufficient steps towards India

India is now growing at a rapid pace towards self-sufficient defense production manufacturing with an import-dependent military power. In the financial year (2024–25), about 80 countries were exported to ammunition, weapons, sub-system, complete systems, and various defense components, which has given India’s defense capabilities recognized globally.

Policy reform and improvement in export processes

A simple and dedicated portal is being operated by the Department of Defense Production Department for the application and processing of the Export Authority requests. FY 2024-25 released 1,762 export authorities, which are 16.92% higher than 1,507 authorities of the previous financial year. In the same period, the total number of exporters also increased by 17.4%.

Over the years, the government has taken many important policy reformist steps to encourage the Indian defense industry, including:-

• Simplification of industrial license process
• Removal of parts and components from license system
• Elaborate of the validity period of the license
• To simplify the SOP of the Export Authority

With these optimistic reforms, India is fully prepared to play an important role in the global defense supply chain with a continuous increase in its defense exports.

(Tagstotranslate) Defense expenses