India’s defense exports for the fiscal year ending in March reached 384.24 billion rupees ($4.11 billion), a growth of over 62% compared to the previous period, the government announced on Thursday. India exported 236.22 billion rupees ($2.52 billion) worth of defense equipment from April 2024 to March 2025, the statement said, adding that exports for the 2025-2026 fiscal year increased by 148.02 billion rupees. This significant increase reflects a growing global acceptance of Indian-made defense products and increased integration of the sector into international supply chains, according to the government. “India, which once relied on other countries for its weapons or was known for its imports, is now rapidly progressing on the export front,” Defense Minister Rajnath Singh said in a speech on Thursday. India currently exports defense equipment to more than 80 countries, the government said. In recent years, India has made efforts to locally produce all types of equipment, from rifles and drones to fighter jets and submarines, either independently or in collaboration with foreign partners. India is the fifth largest military spender in the world and the second largest arms importer after Ukraine, according to the latest data from the Stockholm International Peace Research Institute (SIPRI).
(1 $ = 93.5940 Indian rupees)
