New Delhi: India can offer missiles at nearly one-fourth the price charged by foreign original equipment manufacturers (OEMs), Defence Secretary Rajesh Kumar Singh said at News18 DefCon 2026, pointing to the growing cost competitiveness of the country’s defence industry as exports continue to rise. Singh’s remarks highlighted India’s potential to expand its position in the global arms market through domestic manufacturing and a wider industrial base.
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India’s defence exports reached a record ₹38,424 crore in FY 2025–26, rising 62.66 per cent from ₹23,622 crore in the previous financial year, according to the Ministry of Defence. Defence Public Sector Undertakings contributed ₹21,071 crore, while private companies accounted for ₹17,353 crore. Indian defence products and systems were exported to more than 80 countries, with the number of exporters increasing to 145.
At DefCon, Singh also underlined the need to expand India’s manufacturing capacity and avoid overdependence on a single supplier. He said conventional missile technology had been opened to private companies and called for a broader industrial ecosystem capable of meeting higher production requirements. He cited the scale of missile manufacturing in the Ukraine war as an example of the output India’s defence industry must be prepared to support.
Singh said defence orders had accelerated, with around ₹2 lakh crore worth of orders placed over the past two years, compared with the earlier pace of ₹50,000–80,000 crore. He also pointed to contracts worth ₹2,800 crore awarded under the iDEX programme and said clearer order visibility could help sustain industry participation.
The price comparison signals a potential advantage for Indian suppliers, particularly in markets where acquisition costs shape procurement decisions. However, export competitiveness also depends on performance, reliability, delivery schedules, after-sales support and the ability to sustain supplies over the equipment’s service life.
The latest export figures and Singh’s comments reflect the sector’s push to scale production while widening the role of private firms and start-ups. The next challenge is to convert lower costs and rising output into long-term export relationships and dependable supply capacity.
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