Revving up arms sales: 4 strategies to accelerate India's defence exports

The sharp uptick in India's defence exports is due partly to our migration up the valuation ladder

Ministry of Defence (MoD) data indicates that India’s defence exports reached a record Rs 22,000 crore ($2.63 billion) in 2023-24. This amounts to a startling 31-fold growth over the past decade since 2013-14. Exports growth is showing no signs of diminishing either. Rather, exports have risen 32.5 per cent over the previous financial year (2022-23). And in the first quarter of 2024-25, defence exports surged to Rs 6,915 crore — a 78 per cent increase over the Rs 3,885 crore exported in the same period the previous year.

Last Monday, defence exports got another boost. An Indian