The US, France, and Armenia have emerged as the top three destinations for India’s defense exports, totaling military sales of ₹21,083 crore ($2.6 billion) in 2023-24, according to a report. Indian public and private sector companies are exporting advanced weaponry to approximately 100 countries, including BrahMos supersonic cruise missiles, Dornier-228 aircraft, artillery guns, radars, Akash missiles, Pinaka rockets, and armored vehicles.
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Among these, Armenia stands out as the largest buyer of ‘finished’ weapon systems, such as Akash air defense missile systems, Pinaka multi-launch rocket systems, and 155mm artillery guns, as reported by TOI. Armenia was the first international buyer of the indigenous Akash air defense missiles, which have an interception range of 25 km.
Exports to the US primarily consist of subsystems and components for global defense giants like Boeing and Lockheed Martin, which source parts like fuselage and wings from India as part of their global supply chains. The Tata Boeing Aerospace venture in Hyderabad manufactures fuselage and secondary structures for Apache attack helicopters. France is also importing a significant amount of software and electronic equipment.
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Over the past four years, Armenia has signed multiple agreements with India for the procurement of missiles, artillery guns, weapon-locating radars, rocket systems, bulletproof vests, and night-vision gear. A wide range of ammunition and artillery shells are also being exported to Armenia, with some defense agreements reportedly signed during Armenia’s conflict with Azerbaijan, a key ally of Turkey and Pakistan over Nagorno-Karabakh.
Despite Indigenous Advancements, India Continues as World’s Largest Arms Importer
Additionally, Brazil has expressed interest in co-producing and co-developing advanced weapon systems. The Indian government has also received inquiries from ASEAN countries and some Gulf nations regarding the acquisition of BrahMos missiles, co-developed with Russia. Interest in these precision-strike missiles surged after India secured a $375-million contract in January 2022 with the Philippines for three BrahMos anti-ship coastal missile batteries.
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With a government push for ‘Aatmanirbharta’ (self-reliance) and ‘Make in India,’ India is steadily expanding its domestic defense-industrial base (DIB), setting an ambitious target of ₹3 lakh crore by 2028-29 and arms exports worth ₹50,000 crore. The defense-industrial base has grown to over 430 licensed companies (including 16 defense PSUs) and 16,000 MSMEs, with production value tripling since 2014-15. The private sector contributes 21% to this growth.
Despite advancing its indigenous defense capabilities, India remains the world’s largest arms importer, accounting for 9.8% of total global arms imports from 2019 to 2023.