India's defence sector poised for significant growth amid global shifts: Report

India’s defence sector is set for significant growth, with defence exports projected to reach Rs 203 billion in FY25 and a target of Rs 500 billion by FY29. The report by Nuvama highlights that European defence orders could start in the first half of FY26, providing a crucial opportunity for Indian companies due to Europe’s manufacturing limitations. European nations are seeking partnerships with Indian defence manufacturers to address their manufacturing capacity and workforce shortages, paving the way for increased collaboration in the sector.

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