'At Rs 23,622 crore, defence exports surge 12% in FY 2025'

India's arms exports have surged to a record high of Rs 23,622 crore ($2.7 billion) in the just concluded fiscal, which represents a 12% growth over 2023-24, defence minister Rajnath Singh said on Tuesday. India exported a wide-range of arms, ammunition, defence sub-systems and components to around 80 countries in 2024-25, with the private sector contributing Rs 15,233 crore and defence PSUs Rs 8,389 crore.

"Under PM Modi's leadership, India is marching towards achieving the target of increasing defence exports to Rs 50,000 crore by 2029," he said..