India’s defense exports have surged to an all-time high of more than $4 billion in the last fiscal year, as the government looks to boost its arms manufacturing sector.
The figures mark a rise of more than 60 percent from 2024, the defense ministry said, and provide a shot in the arm for the South Asian country, which is determined to recast itself as a major producer and exporter of weapons.
“India is marching ahead towards becoming a global defense manufacturing hub,” the ministry quoted Defense Minister Rajnath Singh as saying.
“This big jump… in defense exports reflects the growing global trust in India’s indigenous capabilities and advanced manufacturing strength,” Singh said, adding that it had hit an “all-time high” in the fiscal year 2025-26 of 38,424 billion rupees ($4.15 billion).
Government defense companies accounted for nearly 55 percent of exports, with the rest produced by private companies. “This milestone showcases the power of a collaborative and self-reliant defense ecosystem,” Singh said.
India exports defense equipment to more than 100 countries, with the United States, France, and Armenia among the top customers, according to the defense ministry.
Shipments range from missiles, boats, and artillery to radar systems, rocket launchers, and electronic components.
Since coming to power in 2014, PM Narendra Modi has prioritized defense exports to friendly nations. The major export push is in sync with the PM’s flagship initiatives: “Make in India” and “Atmanirbhar Bharat.”
India exports military equipment to high-income nations such as Australia, Belgium, Canada, France, Germany, Israel, Italy, Japan, South Korea, the Netherlands, New Zealand, Saudi Arabia, Switzerland, Taiwan, the UAE, the UK, and the USA.
While India’s rise in defense exports is well known, the major products driving this transformation remain largely unknown.
Here are the top 5 countries that buy the most Indian military equipment, according to a 2023 report.
1. USA
As per data released by India’s Ministry of Defense in January 2023, the USA is one of the top markets for Indian military equipment. The exports comprise bulletproof jackets and helmets, firearm parts and components, armor-shielding equipment, electronics, subsystems, and aero components.
The Indian companies that the USA buys from are Aventel, Boeing India, Cummins Technologies India, Fokker Elmo Sasmos Interconnection Systems, GKN Aerospace Engine Systems India, Goodrich Aerospace Services, Indo MIM, Inmet Technology Solutions, MKU, Rockwell Collins India Enterprises, Rosselltechsys, Tata Advanced Systems, Tata Boeing Aerospace, and Vemtechnologies.
2. Israel
Israel purchases a significant number of Indian weapons, as per the Ministry of Defense. The shopping list includes bulletproof jackets and helmets, firearm parts and components, batteries, subsystems, etc.
The companies that export weapons to Israel are PLR Systems, Kalyani Rafael Advanced Systems, Indo MIM, Alpha-Elsec Defence and Aerospace Systems, Lotus Aviation Technology, Defsys Solutions, Adani-Elbit, Advanced Systems, DCX Cable Technologies, Aceinotec Manufacturing, Alpha Design Technologies, Larsen and Toubro, Wipro Enterprises, HBL Power Systems, Godrej and Boyce, Astra Microwave Products, Astra Rafael Comsys, and BF Elbit Advanced Systems.
3. UK
The UK is an important export destination for Indian military equipment manufacturers. Their items include bulletproof jackets and helmets, electronics, sub-systems, aero components, and engineering services.
The Indian weapon manufacturers include Cummins Technologies India, Goodrich Aerospace Services, Larsen and Toubro, Mahindra Defense Systems, Micron Instruments, and Tata Advanced Systems.
4. France
France, a key military and diplomatic ally of India, has been one of the top buyers of Indian weapons. The French have purchased firearm components, batteries, and aerospace components from India.
The Indian companies that have exported military equipment to France include Dassault Reliance Aerospace, Godrej and Boyce, Goodrich Aerospace Services, Hyderabad Precisions Manufacturing, Mahindra Aerostructure, Micron Instruments, MKU, Safran Electrical and Power India, Sasmos HET Technologies, and Titan Engineering and Automation.
5. Germany
Germany, the largest economy in the European Union (EU), is also a significant target for Indian weapons manufacturers. It buys bullet-proof jackets and helmets, armor-shielding equipment, and firearm components from India.
The companies involved in these exports are MKU, Indo MIM, Grindwell Norton, Micron Instruments, and Mercedes-Benz Research and Development India.
Big Exports
While the US and France top the list for components, sub-systems, and electronics, Armenia and the Philippines have emerged as the most notable buyers of India’s indigenous weapons.
Armenia has acquired 15 Akash-1S surface-to-air missile systems (with around 400 missiles), four batteries of the Pinaka multi-barrel rocket launcher system (24 launchers with guided rockets), and over 90 Advanced Towed Artillery Gun System (ATAGS) 155mm howitzers from India.
The Philippines is another key market for India. In 2022, the Philippines signed a $375 million deal with India for three batteries of the shore-based, anti-ship variant of the BrahMos missile.
Additionally, previous reports suggested that Manila was considering purchasing additional batteries as part of the Horizon 3 military modernization program.
Meanwhile, the spokesperson for the Indonesian Ministry of Defense (MoD), Rico Ricardo Sirait, told Reuters on March 9 that the country has agreed to acquire the BrahMos missile system from India.
The agreement is “part of the modernization of military hardware and defense capabilities, especially in the maritime sector,” he further stated. Sirait stopped short of specifying the number of missiles that Jakarta has decided to procure.
India remains one of the world’s largest arms importers but has gradually increased the share of indigenous content in its own armed forces while expanding its footprint in global defense markets.
- By: ET Digital Desk with AFP Inputs
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