India's defense sector has experienced a significant transformation since 2014, shifting from a reliance on imports to a focus on self-sufficiency and domestic production, the country’s Ministry of Defense said.
As a leading global military power, India plays a crucial role in regional security and strategic objectives. The nation's defense budget has increased from ₹2,53,346 crore in 2013-14 to ₹6,21,940.85 crore in 2024-25, demonstrating a clear dedication to enhancing defense capabilities. Central to this evolution is the expansion of India's defense manufacturing industry, now a vital component of the economy. Through initiatives like "Make in India" and various policy reforms, the government has actively encouraged domestic production, reducing dependence on foreign suppliers.
In the fiscal year 2023-24, India's domestic defense production reached ₹1.27 lakh crore, marking a record high and an impressive increase of approximately 174% from ₹46,429 crore in 2014-15.
India is on track to achieve a target of ₹1.75 lakh crore in defense production in the current fiscal year.
Looking ahead, India aims to reach ₹3 lakh crore in defense production by 2029, further establishing itself as a global defense manufacturing hub.
India's defense exports have surged from ₹1,941 crore in FY 2014-15 to ₹21,083 crore in FY 2023-24, reflecting a remarkable increase in export value.
A 32.5% growth in defense exports was recorded over the previous fiscal year 2022-23, rising from ₹15,920 crore.
Over the past decade, defense exports have grown 21 times, from ₹4,312 crore in the 2004-14 decade to ₹88,319 crore in the 2014-24 decade, highlighting India's expanding role in the global defense sector.
Driven by government policy reforms, ease of doing business initiatives, and a push for self-reliance, India now exports to over 100 nations.
The top three destinations for India's defense exports in 2023-24 were the U.S., France, and Armenia.
The target for 2029 is to increase defense exports to ₹50,000 crore, underscoring India's ambition to become a reliable global defense partner.
India's export portfolio includes advanced equipment such as bulletproof jackets, Dornier (Do-228) aircraft, Chetak helicopters, fast interceptor boats, and lightweight torpedoes.
A significant milestone was the inclusion of 'Made in Bihar' boots in the Russian Army’s equipment, highlighting India's high manufacturing standards in the global defense market.
India's defense sector has made unprecedented strides over the past decade, driven by a strong policy push towards self-reliance and domestic manufacturing. The significant rise in defense production and exports underscores the country's growing capability as a global defense manufacturing hub. With a record ₹1.27 lakh crore in defense production and exports reaching ₹21,083 crore in FY 2023-24, India has demonstrated its commitment to reducing dependency on imports while strengthening its presence in the global market.
As the nation aims for ₹3 lakh crore in defense production and ₹50,000 crore in exports by 2029, these achievements highlight India's emergence as a reliable defense partner worldwide. By leveraging innovation, strategic partnerships, and indigenous capabilities, India is well-positioned to play a pivotal role in the future of global defense manufacturing and security.
