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One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware matchIndia’s defence exports rose from ₹686 crore in FY 2013–14 to nearly ₹16,000 crore in FY 2022–23—a 23-fold increase, according to a Ministry of Defence release published on 31 May 2023. That is a historical comparison, not the latest annual growth rate: exports later reached ₹23,622 crore in FY 2024–25, up 12.04% from the preceding fiscal year.
What does “rise 23 times” mean?
The phrase refers to the change between two fiscal years: ₹686 crore in FY 2013–14 and nearly ₹16,000 crore in FY 2022–23. The Ministry of Defence described that change as a 23-fold increase. It does not mean exports grew 23 times in one year, nor is it the current annual growth rate. The Ministry’s 2023 release gives the historical figures.
What are the latest reported export figures?
For FY 2024–25, India reported defence exports of ₹23,622 crore, compared with ₹21,083 crore in FY 2023–24. That is an increase of ₹2,539 crore, or 12.04%, year on year. These figures are reported for complete fiscal years; they are not a monthly or annualized run rate. The Ministry announced them on 1 April 2025.
| Fiscal year | Reported defence exports | What the comparison shows |
|---|---|---|
| FY 2013–14 | ₹686 crore | Starting value in the historical comparison |
| FY 2022–23 | Nearly ₹16,000 crore | Nearly 23 times the FY 2013–14 figure |
| FY 2023–24 | ₹21,083 crore | Base year for the latest year-on-year comparison |
| FY 2024–25 | ₹23,622 crore | 12.04% above FY 2023–24 |
The 2023 historical figures and 2025 annual totals come from separate Ministry of Defence releases. The 2025 release reports the FY 2024–25 and FY 2023–24 totals.
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Which parts of the industry contributed to FY 2024–25 exports?
The private sector accounted for ₹15,233 crore of reported exports in FY 2024–25, while defence public sector undertakings (DPSUs) contributed ₹8,389 crore. For FY 2023–24, the corresponding figures were ₹15,209 crore from the private sector and ₹5,874 crore from DPSUs.
| Exporter category | FY 2023–24 | FY 2024–25 |
|---|---|---|
| Private sector | ₹15,209 crore | ₹15,233 crore |
| DPSUs | ₹5,874 crore | ₹8,389 crore |
The figures show the reported value by category in each fiscal year; they do not, by themselves, explain why exports changed or identify individual companies. The category totals are from the Ministry’s FY 2024–25 announcement.
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What does India export, and where does it go?
The Ministry said the FY 2024–25 export basket included ammunition, arms, systems, subsystems, parts and components, and reached around 80 countries. This is a broad mix of defence-industry products and components, not a single product category.
The Ministry’s 2023 release said exports had reached more than 85 countries in FY 2022–23. The later release says “around 80” for FY 2024–25. Because these are differently worded estimates from separate releases, they do not establish a comparable fall in the number of destinations. Both statements appear in the relevant 2023 release and 2025 release.
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Are export authorisations the same as completed exports?
No. Export authorisations are approvals, not a measure of completed sales or the value of goods shipped. The Ministry reported 1,762 authorisations in FY 2024–25, up from 1,507 in FY 2023–24, and said the number of exporters rose 17.4%. Those figures indicate activity in the approval process and exporter base; they should not be substituted for the export-value totals above. The figures are from the Ministry’s 1 April 2025 release.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What is the government’s next export target?
The government has stated a target of ₹50,000 crore in defence exports by 2029. It is a policy goal, not an achieved result or an independently validated forecast. The target was cited in the Ministry of Defence release dated 1 April 2025.
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