New Delhi: India’s defence industry is getting new customers in Europe as the Russia-Ukraine war drives demand for ammunition, artillery shells and explosives. Indian companies have exported at least $872 million worth of these products to European countries in the four years since the Russia-Ukraine war began, making India the second-largest supplier of ammunition to 13 countries in Eastern and Central Europe.
The value of these exports has increased by more than 1,600 per cent from $49.2 million in the four years before the war, according to trade data monitor figures sourced from India’s ministry of commerce and industry. India has climbed from 28th place to second among suppliers to the 13-country group, behind South Korea, the Bloomberg reported.
The increase comes as European countries need more ammunition to support Ukraine and refill their own military stocks. According to report, this also puts India in a difficult position, as it continues to maintain close defence ties with Russia while selling ammunition to European countries that support Ukraine.
How Indian ammunition is linked to Ukraine
According to report, records show that some Indian-made ammunition has reached Ukraine, although the full route of these shipments is unclear.
Ukrainian customs records compiled by Big Trade Data show that at least 78 shipments of Indian-made 155 mm artillery shells, propellants and fuzes worth $62.8 million arrived in Ukraine in February 2024. The records named US-based defence company Regulus Global as the exporter and Ukraine’s state-owned arms procurement company, SpetsTechnoExport, as the importer. However, the records do not explain how Regulus obtained the ammunition or what happened to it after delivery.
Indian ammunition has also been exported to European countries. State-owned Munitions India exported nearly 72,000 rounds of 120 mm mortar shells between 2024 and 2025, with Romania’s official defence procurement agency, CN Romtehnica, listed as the importer.
Ukrainian customs records show that Romtehnica exported nearly 6,000 mortar rounds of the same calibre to Ukraine in early 2024. Bulgaria was listed as their country of origin. The records do not confirm whether these were the same shells supplied by India.
Indian company Solar Industries India supplied at least 229,000 kilograms of RDX, a powerful explosive, to Poland’s nitro-chem between 2023 and 2025, according to Indian customs records.
Ukrainian customs records show that nitro-chem exported RDX to a Ukrainian company in 2024. The Ukrainian company says it uses the explosive to make reactive armour for tanks. However, the records do not confirm whether the RDX supplied by India was later sent to Ukraine.
The records show that Indian ammunition and explosives are part of Europe’s defence supply chain. However, they do not establish that all Indian defence products exported to European countries are being sent to Ukraine.
Modi’s push to boost domestic defence production
India’s growing ammunition trade is part of prime minister, Narendra Modi, effort to expand domestic defence production and reduce dependence on imported weapons. In April 2026, the government reported that India’s defence exports had risen 63 per cent to around $ in the financial year ended March 2026. This total includes contracted and authorized exports that may not yet have been delivered, so it is broader than the value of goods recorded in customs data.
State-owned defence companies accounted for over half of India’s defence exports that year. Munitions India was a major contributor to their export earnings.
Munitions India was incorporated in the year 2021 with the restructuring of the Ordnance Factory Board that had 41 ordnance factories spread all over India. As a result of the restructuring process, Munitions India became responsible for approximately one-third of these facilities.
The hunt for buyers overseas has become increasingly significant as the race for procurement orders heats up in India amongst the private sector companies. Nevertheless, the defence industry in India still relies to some extent on Russian technology. This was announced in November 2024 by the state-owned defence companies.
Growing sales create a challenge for India
India has close ties with Russia and the increase in defence exports comes as India continues to do so. Moscow has been one of India’s main arms suppliers since the Cold War, and more than half of India’s combat aircraft are of Russian origin. India has also remained a major buyer of Russian oil since 2022.
At the same time, India has continued to engage with both Russia and Ukraine over the conflict. The Russian president, Vladimir Putin, has praised Modi’s efforts to promote peace, while Ukraine calls India’s proposal most comprehensive, RNA Media earlier reported.
Indian officials and industry representatives cited in the report said the ammunition sales were driven by commercial interests. New Delhi has maintained its policy of strategic autonomy, seeking to preserve its relationship with Russia while expanding cooperation with Western countries.
India requires foreign buyers to follow end-user agreements that restrict the destination and use of its defence products. However, ammunition can pass through several countries before reaching its final destination, making it difficult to trace every shipment. Industry executives have warned that unauthorized transfers could expose companies to sanctions and bring greater international scrutiny of India’s exports.
Europe’s demand also reflects a wider shortage of ammunition production capacity. European manufacturers are struggling to meet both Ukraine’s needs and their own military requirements.
India has an opportunity to grow its defence industry and build long-term relationships with overseas buyers. But it must deliver its weapons to approved destinations and maintain its links with Russia and others.