New Delhi — India could achieve its defense export target of Rs 50,000 crore by 2028, about two years ahead of the government’s 2030 deadline, as overseas demand for Indian military equipment continues to grow, Defence Secretary Rajesh Kumar Singh said Friday.
“We’ve reached Rs 38,000 crore in orders in the last year, and in the future we have a target of Rs 50,000 crore by 2030, and my anticipation is that we’ll achieve it possibly by 2028,” Singh said at a Public Affairs Forum of India conference.
India’s annual defense exports rose to a record Rs 38,424 crore in 2025-26, compared with Rs 686 crore in 2013-14.
Singh said India’s cost competitiveness could help drive further export growth, particularly in missiles, where domestically produced systems are significantly cheaper than comparable products from foreign manufacturers.
“Our USP really is that we can offer missiles at almost one-fourth of the price of what foreign OEMs (original equipment manufacturers) offer,” he said.
“In general, the cost for our missile production rates is lower, and therefore that is an area where export potential is high,” Singh added.
He said demand is also growing for artillery and mounted gun systems, while the Akash surface-to-air missile system has attracted interest from potential overseas buyers.
“We are selling unique products. The most well-known is the BrahMos missile, which is fairly coveted and which we are selling to, or in the process of selling to, several Southeast Asian countries,” Singh said.
The government is also seeking to expand the number of domestic manufacturers operating across key defense sectors, he said.
India should have at least two or three fighter aircraft production lines, about half a dozen missile manufacturers and hundreds of drone producers, Singh said.
He added that the government is opening ammunition and propellant production to more private-sector companies in an effort to reduce dependence on a single public-sector manufacturer.
Singh said India’s expanding defense manufacturing base would also support the development of larger military platforms, including fighter aircraft.
“We already know that for Advanced Medium Combat Aircraft (AMCA), we are fielding proposals from three shortlisted companies,” he said.
Singh said defense exports also help India build longer-term relationships with purchasing countries through maintenance, spare parts and other supply-chain support.
He added that higher defense exports bring foreign exchange into the country and create jobs, contributing to broader economic growth. (Source: IANS)
