India’s defence moment: Can buyer become builder?
India's defense sector is poised for a transformation, with private companies now at a pivotal juncture, according to the ET World Leaders Forum. The government is keen on boosting exports, however hurdles remain, including the establishment of a dedicated help desk within the Ministry of Defence to address issues faced by exporters post-export, and the streamlining of export clearance processes further.
India's defense production hit an unprecedented Rs 1.78 lakh crore in FY26, a 15.6% increase from the previous year and a remarkable 110% rise compared to FY2020-21. This surge in production, a 15-fold increase from the Rs 43,746 crore recorded in FY2013-14, has spurred a growing demand for funding, research and development (R&D), and the establishment of sovereign intellectual property (IP) within India.
Commentators argue that private sector companies, given their innovation and development capabilities, should be prioritized in such endeavors.
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