India poised to scale Rs 50,000 crore defence exports target by 2028: Top official

New Delhi: India is poised to achieve its Rs 50,000 crore target for defence exports by 2028as 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, in which Indian systems cost far less than comparable offerings of other 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 contended. "In general, the cost for our missile production rates is lower, and therefore that is an area where export potential is high,” he added. Rajesh Kumar Singh said there was growing demand for artillery and mounted gun systems, while the Akash surface-to-air missile system was also attracting interest from potential 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," he observed. He pointed out that the government is keen to expand the number of domestic manufacturers across key defence segments. 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 added, The top official further stated that the government was opening up ammunition and propellant production to more private-sector companies to reduce dependence on a single PSU. He 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 pointed out. 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, which strengthens the economy.