India's defence industry has demonstrated significant growth in exports, expanding to over 85 countries across Southeast Asia, the Middle East, Africa, and Latin America. Over the past decade, defence exports have surged from Rs 686 crore in 2013-14 to a record Rs 21,083 crore in FY 2023-24, showcasing the global recognition of Indian defence products and technologies. Approximately 100 firms are now involved in exporting defence products, supported by policy initiatives like 'Make in India' and economic reforms aimed at simplifying export procedures and enhancing business efficiency.

The Atmanirbhar Bharat initiatives have boosted indigenous design, development, and manufacturing of defence equipment, reducing reliance on imports. The private sector, represented by companies such as Larsen & Toubro, Tata Advanced Systems, and Bharat Forge, has emerged as significant contributors alongside Defence Public Sector Undertakings (DPSUs) and other Public Sector Undertakings (PSUs). In FY 2023-24, DPSUs/PSUs accounted for 79.2% of total production value, with the private sector contributing 20.8%, both showing steady growth.

India's defence export portfolio includes a range of products such as missiles, radars, naval systems, helicopters, and surveillance equipment. The country has achieved notable advancements in indigenous production of advanced naval systems, exemplified by platforms like the INS Vikrant aircraft carrier. Key exports also include BrahMos supersonic cruise missiles, developed jointly with Russia, with recent purchases by countries like the Philippines underscoring their international demand.