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

India is poised to achieve its Rs 50,000 crore target for defence exports by 2028, nearly two years ahead of the 2030 deadline fixed by the government, as overseas demand for the country’s military hardware is on the rise, Defence Secretary Rajesh Kumar Singh said on 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,” the Defence Secretary said at a Public Affairs Forum of India (PAFI) conference. The country’s annual defence exports have surged to a record Rs 38,424 crore in 2025-26, compared with a mere Rs 686 crore in 2013-14.

Rajesh Kumar Singh highlighted that India’s cost competitiveness would help drive export growth, especially in the missiles segment, where Indian systems cost far less, about one-fourth the price, than comparable offerings from other foreign manufacturers.

He said India should have at least two, if not three, fighter aircraft production lines, around half a dozen missile producers, and hundreds of drone makers. The government is also opening up ammunition and propellant production to more private-sector companies to reduce dependence on a single PSU, he added.

Singh said India’s growing defence manufacturing ecosystem would also support 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 companies,” he said.

The Defence Secretary also said exports help India establish longer-term defence relationships with buyer countries through maintenance, spares and other support in the supply chain. He further highlighted that defence exports also bring in foreign exchange and generate employment in the country, strengthening the economy.