India could hit Rs 50,000 crore defence export target two years early: Defence Secretary

As per the latest business developments, India could achieve its Rs 50,000 crore defence export target as early as 2028, nearly two years ahead of the government's 2030 target, as overseas demand for indigenous missiles, artillery and other military equipment rises, Defence Secretary Rajesh Kumar Singh stated on Friday.

"We've touched Rs 38,000 crores of orders recently, for the last year in fact, and in the future we have a target of Rs 50,000 crores by 2030, and my anticipation is that we'll achieve it possibly by 2028," Singh stated at a Public Affairs Forum of India (PAFI) conference.

Defence exports stood at a record Rs 38,424 crore in 2025-26, according to government data, compared with Rs 686 crore in 2013-14. The government has set a target of Rs 50,000 crore in defence exports by 2029-30.

Singh stated India's cost competitiveness could help drive export expansion, particularly in missiles, where he stated Indian systems could be significantly cheaper than those offered by foreign original equipment manufacturers (OEMs).

"Our USP really is that we can offer missiles, and I won't name the missile, but similar missiles at almost one-fourth of the price of what foreign OEMs offer," he stated.

"In general, the cost for our missile production rates is softer, and as a result that is an area where export potential is high," he stated.

The government is seeking to expand the number of domestic manufacturers across key defence segments, with Singh setting out an item-wise ambition for the industry. He stated India should have at least two, if not three, fighter aircraft production lines, around half a dozen missile producers and hundreds of drone makers.

He additionally stated the government was opening up ammunition and propellant production to more private-sector firms to reduce dependence on a single PSU.

India has been expanding its defence export basket beyond established products such as the BrahMos supersonic cruise missile. Singh stated there was growing demand for artillery and mounted gun systems, while the Akash surface-to-air missile system was additionally attracting interest from potential buyers.

"Very coveted and which we are selling to—unique products, of course. I mean, the most well-known is the BrahMos, which is fairly coveted and which we are selling to, or in the process of selling to several Southeast Asian countries," Singh stated.

He stated exports additionally help India establish longer-term defence relationships with buyer countries through maintenance, spares and other backing.

"Defence exports enable you to, one, show that you are providing good technology, and that you are doing it at competitive prices. It additionally enables you to strengthen the capabilities of your friends," Singh stated.

"It creates long-term dependencies on you so that you will be able to backing them over a long period of time through spares, maintenance, and other backing, and through deploying teams to those areas," he further noted.

The Defence Secretary stated India's growing defence manufacturing ecosystem would additionally backing the development of larger platforms, including fighter aircraft.

"We already know that for Advanced Medium Combat Aircraft (AMCA), we are fielding proposals from three shortlisted firms. Those are the kind of initiatives I had in mind," Singh stated.

Defence exports, Singh stated, additionally bring in foreign exchange and generate employment, while demonstrating that Indian defence products can compete internationally on both technology and price.

"Obviously people will not buy from you if they can find the same capability from somewhere else at an equal or cheaper rate," he stated.