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India's defense sector may get orders worth $138 billion in the next 10 years, claims Nomura
India Defence: Amidst the increasing demand for defense equipment, technologies, and services, India's defense sector may get attractive orders worth USD 138 billion during the financial year 2024 to 2032. Nomura has made this claim in one of its reports titled India Defense.
According to a report titled 'India Defence' released by Nomura, India's defense sector may get attractive orders worth USD 138 billion during the financial year 2024 to 2032 amid increasing demand for defense equipment, technologies, and services. This situation will provide significant opportunities for companies engaged in defense production and technology development.
The report said India's defense capital expenditure is poised to grow to 37 percent of the total budget by FY30, with a substantial increase to an estimated 29 percent in FY2025. This equates to a cumulative capital outlay of Rs 15.5 trillion in FY24-30, indicating a substantial increase over the previous period.
The report attributes this growth to the increased defense budget, modernization efforts, and the government's focus on indigenous manufacturing under initiatives such as "Make in India".
