After Operation Sindoor success, Rajnath Singh says India’s defence exports jumped 34-fold since FY14

India’s defence exports have witnessed a 34-fold increase over the last decade, reaching an all-time high of ₹23,622 crore in the financial year 2024-25, Defence Minister Rajnath Singh said on Wednesday, as defence-related stocks continued to remain in the limelight.

In a post on social media platform X, Singh said, “India’s defence sector is growing stronger than ever, driven by the spirit of Atmanirbhar Bharat. Defence exports have jumped from ₹686 crore in 2013-14 to ₹23,622 crore in 2024-25 — a 34-fold rise.”

The minister highlighted the surge in defence exports days after India carried out precision strikes on terror infrastructure across the border on May 7 under Operation Sindoor, followed by a military engagement with Pakistan.

On Tuesday, shares of Bharat Dynamics zoomed 11.16%, Axiscades Technologies surged 5%, Data Patterns soared 4.05%, Bharat Electronics jumped 4.01% on the BSE.

Hindustan Aeronautics Ltd climbed 3.81%, Mishra Dhatu Nigam rallied 3.44%, Paras Defence and Space Technologies went up by 2.84% and DCX Systems gained 2.81%.

Stocks of drone manufacturers Ideaforge Technology Ltd surged 9.26% and Droneacharya Aerial Innovations rallied 4.99%.

According to the government data, exports surged by ₹2,539 crore or 12.04% over the previous fiscal’s figure of ₹21,083 crore.

Defence PSUs recorded a 42.85% growth in exports, contributing ₹8,389 crore in FY 2024-25 as compared to ₹5,874 crore in 2023-24.

The private sector contributed ₹15,233 crore, marginally up from ₹15,209 crore in the previous fiscal.

A wide range of items — including ammunition, arms, sub-systems, systems, and components — were exported to around 80 countries during the fiscal, the ministry said.

The government credited the export growth to a series of policy reforms aimed at boosting indigenous defence production. These include simplification of industrial licensing procedures, removal of parts and components from the licensing regime, and extension of license validity periods.

The Standard Operating Procedure (SOP) for granting export authorisation was simplified in the last financial year, leading to the issuance of 1,762 authorisations, up from 1,507 in FY 2023-24. The number of exporters also rose by 17.4% in the same period.