Driven by a 151% export surge from state-owned enterprises, Indian defense shipments expanded to over 80 global markets as registered exporters reached 145. Ammunition-related deliveries to European buyers rose over 1,600% in the four years after the Ukraine invasion, with Central and Eastern European nations receiving the bulk of shipments. Streamlined authorization policies and portal upgrades facilitated this growth, although domestic supply chain bottlenecks and propellant manufacturing delays still pose operational challenges.
Key points
India has established itself as the third-largest arms supplier to Europe amid massive re…: India has established itself as the third-largest arms supplier to Europe amid massive regional shell shortages.
Nearly three-quarters of the recent ammunition-related exports to Europe went directly to…: Nearly three-quarters of the recent ammunition-related exports to Europe went directly to 13 Central and Eastern European countries.
Europe's armies are racing to replenish their ammunition stockpiles after years of supplying artillery shells to Ukraine left many countries with depleted inventories. Their efforts to rebuild exposed a major weakness: European defence manufacturers have struggled to ramp up production quickly enough to meet the surge in demand.
The European Union's ReArm Europe, or Readiness 2030, initiative (an ambitious €800-billion push to boost defence spending, strengthen military capabilities and expand the continent's defence-industrial base) has added further momentum to this procurement drive.
Indian manufacturers, able to produce ammunition at competitive prices, have emerged as beneficiaries of Europe's scramble to restock. And the numbers reveal just how rapidly this opportunity has translated into export growth.
India's defence exports touched an all-time high of Rs 38,424 crore in 2025-26, registering a 62.66% increase over the previous year's Rs 23,622 crore, according to the defence ministry. Defence Public Sector Undertakings (DPSUs) accounted for Rs 21,071 crore, or 54.84% of the total, while private companies contributed Rs 17,353 crore.
India’s ammunition manufacturing capabilities over the years has come a long way. However for any…
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