New Delhi, Oct. 10 -- India's defence sector continues to remain firmly in a structural upcycle, supported by strong execution, favourable policy momentum and increasing export opportunities. The newly-introduced Defence Procurement Manual (DPM) 2025 is expected to act as a key catalyst for domestic suppliers, particularly mid- and small-cap players with established capacity.

At the same time, Indian defence companies are rapidly transitioning from domestic suppliers to strategic partners in the global aerospace and defence ecosystem. Export revenues have grown tenfold in the past decade, crossing Rs.23,622 crore in FY25, with a government target of Rs.50,000 crore by 2029. This underscores the rising integration of Indian firms into glo...