India's defence exports surge to over $4 billion

India's defense exports surged to a record more than $4.1 billion (€3.56 billion) in the fiscal year to March 2026, marking a rise of over 60% from the previous year, the government said on Thursday.

The defense ministry said exports reached 38,424 billion rupees ($4.1 billion), driven by growing global demand for Indian-made military equipment.

"India is marching ahead towards becoming a global defense manufacturing hub," Defense Minister Rajnath Singh said, adding the increase reflects rising international confidence in the country’s indigenous capabilities.

Government-owned firms accounted for about 55% of exports, with private companies contributing the rest.

India currently exports defense equipment, ranging from missiles and artillery to radar systems and electronic components, to more than 80 countries.

Despite the growth, India remains a major arms importer globally, even as it pushes to expand domestic manufacturing and boost exports.

India is the world's ⁠fifth-largest military ​spender and the second-largest arms importer after Ukraine, according to the latest data from the Stockholm International Peace Research Institute.