India’s defence sector has emerged as one of the most attractive long-term structural growth opportunities within the manufacturing universe. The sector remains well-positioned to benefit from military modernisation, rising localisation, a strong domestic order pipeline, growing exports and sustained policy support, Bajaj Broking said in its latest research report.
India’s defence budget has soared multifold from Rs 2.53 trillion in FY14 to Rs 6.81 trillion in FY26, the brokerage said, adding that this reflects the Prime Minister Narendra Modi-led government’s strong commitment towards military modernisation and national security.
