Archive · 20 Aug 2026
India Targets Top 25 Arms Exporters Amid Global Expansion
India is selling more defence equipment to other countries than it did a decade ago.
Its exports grew from Rs 700 crore in FY2014 to Rs 38,400 crore in FY2026.
The government wants exports to reach Rs 50,000 crore by FY2029.
The United States is currently India’s biggest customer.
India is also trying to sell more weapons and defence technology in Europe, Armenia and Africa.
Some Indian missiles, rockets and other products are cheaper than similar Western products.
Armenia has bought complete systems such as Akash and Pinaka.
European countries may buy Indian ammunition and aerospace products.
African countries may want Indian equipment but often need help paying for it.
India’s defence exports rose from Rs 700 crore in FY2014 to Rs 38,400 crore in FY2026, with a Rs 50,000 crore FY2029 target.
The United States accounted for about 50% of India’s defence exports between FY2019 and FY2024, but Europe, Armenia and Africa are emerging markets.
Indian missiles and rockets can cost 20%-50% less than Western alternatives, although systems such as BrahMos compete on capability rather than price alone.
European demand may grow for ammunition, missiles, aerospace components, UAVs, engines, radars and electronics as defence spending increases.
Armenia is buying complete Indian systems, while Africa offers a larger potential market where financing, training, maintenance and industrial cooperation remain important.
- Who
- India’s government and defence companies, with potential buyers and partners in Europe, Armenia and Africa.
- What
- India is expanding defence exports and seeking to become one of the world’s top 25 arms exporters.
- When
- Exports grew from FY2014 to FY2026, with a government target for FY2029.
- Where
- Current and potential markets include the United States, Europe, Armenia and Africa.
- Why
- India is seeking new buyers as countries diversify suppliers, rebuild inventories and look for cost-effective defence systems.
Growth Opportunities
Export Challenges
India’s price advantage
Growth Opportunities
Indian missiles, rockets, drones, electronics, radars, ammunition and explosives can offer lower prices than comparable Western systems.
Export Challenges
Price is not sufficient in every market: BrahMos is estimated to cost more than the US Tomahawk but has still attracted international interest.
European expansion
Growth Opportunities
Europe’s increased defence spending and demand for ammunition, aerospace components and electronics could create major opportunities for Indian companies.
Export Challenges
Indian exporters must meet European customer requirements, including NATO-standard ammunition requirements and established industrial partnerships.
African market
Growth Opportunities
Africa is described as India’s next frontier, with interest in products including Dhruv helicopters, Tejas fighter aircraft and armoured vehicles.
Export Challenges
Many African countries face budget constraints, making financing, training, maintenance and industrial cooperation important parts of potential deals.
- FY2026 exports
- Rs 38,400 crore, up from Rs 700 crore in FY2014.
- FY2029 target
- Rs 50,000 crore in defence exports.
- Largest destination
- The United States accounted for about 50% of exports between FY2019 and FY2024.
- Cost advantage
- Indian missile and rocket systems are estimated to be 20%-50% cheaper than Western alternatives.
- Akash estimate
- About $500,000 per missile, compared with approximately $800,000-$1 million for missiles associated with NASAMS.
- Pinaka estimate
- About $100,000 per rocket, compared with approximately $150,000-$200,000 for a US HIMARS rocket.
- Africa position
- India is described as Africa’s third-largest arms supplier, with a 15% share, behind China and Russia.