India’s defence exports saw a significant rise of 32.5% in 2024, reaching Rs 21,083 crore, up from Rs 15,920 crore in the previous year. This growth continues a positive trend over the past six years, with export values rising from Rs 10,746 crore in 2018-19 to Rs 15,920 crore in 2022-23. The Defence Ministry also simplified the Standard Operating Procedure (SOP) for defence exports in May 2024, making the process more business-friendly by allowing the export of certain items for demonstration and business development purposes.
In 2024, the Department of Defence Production introduced three Open General Export Licenses (OGEL), which allow industry players to export designated items to specified countries without needing further authorization. The scope of OGEL has been expanded to include more countries and products. Additionally, to further boost defence exports, public sector undertakings have established several overseas offices this year to strengthen their international presence.
In line with its self-reliance goals, the Defence Ministry issued the fifth positive indigenisation list (PIL) in June 2024, covering 346 items. This builds on previous PILs, which had already indigenised 2,972 items worth Rs 3,400 crore. Furthermore, 10 new projects received ‘Approval-in-Principle’ (AIP) in 2024, bringing the total to 145 projects focused on indigenous defence systems. Additionally, five projects were granted ‘Acceptance of Necessity’ (AoN), taking the total number of AoN projects to 65.
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