Rs 38,000 cr export boom for India as Europe's war machine runs short of shells
European countries are rapidly seeking to replenish their artillery stockpiles, creating significant demand for ammunition and shells. India's defence exports have reached an all-time high, boosted largely by the increasing appetite from Europe. Indian manufacturers now feature prominently in the European arms market, ranking as the third-largest exporter of arms. Notably, the procurement…
India's defence exports reached an unprecedented level of Rs 38,424 crore in the fiscal year 2025-26, marking a significant 62.66% increase compared to the previous year's figure of Rs 23,622 crore, according to the defence ministry. This surge in exports can be attributed to Europe's urgent need to replenish its ammunition stockpiles, which have been depleted due to years of support provided to Ukraine.
The European Union's "ReArm Europe," or Readiness 2030, initiative, aimed at boosting defence spending and strengthening military capabilities, has fuelled this procurement drive. Indian manufacturers, known for their competitive pricing, have capitalized on this opportunity and emerged as key beneficiaries of Europe's scramble to restock.
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