# India's defence exports hit Rs 38,424 crore in FY26, up 63% as Sindoor validates buyers > DPSUs tripled exports year-on-year; BrahMos led the platform sales; Armenia absorbed Pinaka, Akash-1S and howitzers; US and France anchor the components tier; Rs 50,000 crore target by 2029 **Meta:** type: event · date: 2026-04-04 · heads: Whose Money, The Long Game · 10 takes · 5 lenses · 4 regions ## Summary [India](/en/entity/india)'s defence exports reached Rs 38,424 crore ($4.6B) in FY2025-26, up 62.66% from Rs 23,622 crore in FY25, according to the Defence Production Secretary's April 2026 announcement. Defence Public Sector Undertakings drove the surge, their contribution rising 151% to Rs 21,071 crore; the private sector added Rs 17,353 crore (up 14%). A total of 145 firms exported to more than 100 countries. BrahMos Aerospace was the single largest contributor, posting Rs 5,200 crore in revenue and confirming two new undisclosed-nation contracts worth Rs 4,000 crore in October 2025 alongside the $629M Vietnam deal (see [BrahMos builds a South-East Asian network: Vietnam signed, Indonesia closing, UAE in talks](/en/n/brahmos-philippines-er-2026)). Armenia remained the largest buyer of complete combat platforms, receiving Pinaka Mk-I, Mk-I Enhanced and Guided MLRS systems under the $250M 2022 G-to-G deal, with Guided Pinaka rocketry shipped in March 2026; Armenia has also taken delivery of Akash-1S surface-to-air missiles and Advanced Towed Artillery Gun Systems. The US remained the top destination country by value for sub-system components, primarily airframe structural parts for Boeing and Lockheed Martin programmes. BEL exports rose 33.65% to Rs 1,191 crore, with a €25.75M TR-module order for Thales Rafale radars and the BEL-Safran HAMMER joint venture. The government's target is Rs 50,000 crore ($6B) by 2029. ## By the numbers - Rs 38,424 crore ($4.6B), total FY2025-26 defence exports, up 62.66% year-on-year. - Rs 21,071 crore, DPSU export contribution, up 151%. - Rs 17,353 crore, private-sector export contribution, up 14%. - 145, defence exporting firms (up from 128 the prior year). - 100+, destination countries. - Rs 5,200 crore, BrahMos Aerospace FY26 revenue. - Rs 1,191 crore, BEL export sales, up 33.65%. - Rs 50,000 crore, government export target for 2029. ## Why it matters [India](/en/entity/india) sits at an inflection point: a country that was the world's largest arms importer through the 2010s now exports to over 100 countries and is closing in on France's annual export total. Operation Sindoor gave India what no trade fair could, a verified combat record for BrahMos, Akash, Pinaka and other systems. The split between the DPSU surge (mostly BrahMos and BEL platforms) and private-sector growth (mostly components for Western OEMs) reflects two distinct export models: sovereign-to-sovereign platform sales that carry geopolitical weight, and supply-chain integration that builds industrial depth but not strategic independence for buyers. Both matter for the Rs 50,000 crore target. ## What to watch - Whether SIPRI's next annual dataset confirms India's move up the global exporter rankings. - Armenia as a test case: whether the India-Armenia platform relationship deepens or stalls over Russian pressure. - Progress on HAL Tejas and LCH Prachand export contracts (Nigeria, Philippines) adding to the platform tier. - BEL and L&T Defence export diversification beyond components into integrated systems. ## Regional takes (batched by bias / lens) ### Indian defence analysis - **Eurasian Times** (India, en) — First major analysis of the FY2025-26 defence export figure, contextualising the Rs 38,424 crore ($4.6B) total against the global arms trade and noting the irony that the world's second-largest arms importer is now a fast-rising exporter. > "India's defense exports hit a record $4.6 billion in FY2025-26, a 63 percent jump that transforms the world's second-largest importer into a credible exporter." Source: https://www.eurasiantimes.com/indias-defense-exports-boom-worlds-2nd-biggest-arms-importer-hits-record-4-billion-in-fy-2025-26/ ### Indian defence-industrial trade press - **Channel IAM** (India, en) — Breaks down the Rs 38,424 crore FY26 total: DPSUs contributed Rs 21,071 crore (up 151%), private sector Rs 17,353 crore (up 14%); 145 exporting firms, 100-plus destination countries; US and France dominate the components tier. > "India's defence exports reached Rs 38,424 crore in FY2025-26, with defence public sector undertakings tripling their contribution year-on-year." Source: https://en.channeliam.com/2026/04/04/india-defense-exports-record-four-billion/ - **Indian Defence News** (India, en) — Reports Yantra India Limited shipping the first batch of Guided Pinaka rockets for Armenia in March 2026, under a $250M 2022 government-to-government deal covering Pinaka Mk-I, Mk-I Enhanced and Guided MLRS systems. > "Yantra India Limited shipped its maiden batch of Guided Pinaka rockets for Armenia, the first delivery of an advanced guided artillery system to a foreign military." Source: https://www.indiandefensenews.in/2026/03/yantra-india-limited-ships-maiden.html ### South Asian international affairs - **BLiTZ** (Bangladesh, en) — Bangladeshi outlet covers the BrahMos Aerospace revenue milestone and the post-Sindoor surge in buyer inquiries, framing the export boom from a South Asian regional perspective and noting India's growing defence reach into Southeast Asia. > "BrahMos Aerospace broke revenue records in 2025-26 as global demand accelerated after the missile's first combat use." Source: https://weeklyblitz.net/2026/05/03/brahmos-venture-breaks-revenue-records-as-global-demand-accelerates/ ### Indian defence-research community - **IDRW** (India, en) — Confirms BrahMos Aerospace's two export orders in FY2025-26 worth Rs 4,000 crore, citing a BrahMos official, and traces the post-Sindoor demand pipeline across Southeast Asia and the Middle East. > "BrahMos Aerospace confirmed two export orders in FY2025-26, with officials citing a significant uptick in international interest following the missile's combat debut." Source: https://idrw.org/brahmos-aerospace-confirms-getting-two-export-orders-in-2025-26/ ### unlabelled - **PSU Watch** (India, en) — Source: https://psuwatch.com/defencewatch/bel-clocks-record-rs-26750-crore-turnover-in-fy26-exports-rise-over-33 - **Raksha Anirveda** (India, en) — Source: https://raksha-anirveda.com/shangri-la-dialogue-defence-secretary-announces-brahmos-deal-signing-with-vietnam/ - **The Defense Post** (United States, en) — Source: https://thedefensepost.com/2025/10/23/india-brahmos-missile-2/ - **Business World** (India, en) — Source: https://www.businessworld.in/article/India-To-Export-Pinaka-Rocket-System-To-Armenia-In-250-M-Deal-/29-09-2022-448568/ - **Militarnyi (Ukraine)** (Ukraine, en) — Source: https://militarnyi.com/en/news/armenia-strengthens-defense-with-indian-akash-sams-and-pinaka-mlrs/ ## Across the graph - Related: [[brahmos-philippines-er-2026]], [[sipri-2025-arms-transfers-europe-surge]], [[india-akash-ng-pralay-2026]] - Entities: India, Armenia, Narendra Modi --- Canonical: https://rbtfl.xyz/en/n/india-defence-exports-record-fy26