India’s defence exports soar 30x, hit ₹21,000 crore in 2023-24

The total value of defence exports from 2016 to June 2024 stood at ₹89,885.06 crore, with the highest annual export value recorded at ₹21,083.38 crore in 2023-24. India's defence exports have reached an all-time high, soaring from ₹686 crore in FY 2013-14 to ₹21,083 crore in FY 2023-24—an impressive 30-fold increase over the past decade. Notably, exports grew by 32.5% compared to the previous fiscal year, rising from ₹15,920 crore.

India's defence export portfolio includes a diverse range of advanced equipment, such as bulletproof jackets and helmets, Dornier (Do-228) aircraft, Chetak helicopters, fast interceptor boats, and lightweight torpedoes. The country currently exports to over 100 nations, with the USA, France, and Armenia emerging as the top three destinations for defence exports in 2023-24.