New Delhi, July 2 -- For seventy years, India bought its wars from somebody else. The fighter jets came from Russia, the howitzers from Sweden, and the rifles from anyone willing to ship.

We were the world's largest arms importer for the better part of a decade-a strange and uncomfortable distinction for a country that builds rockets to the moon on a shoestring.

That part of India's journey is now over. And the speed at which it became out of date is the entire investment case.

India's defence production crossed Rs.1.78 trillion in FY26, more than double what it was five years ago.

Meanwhile, exports have gone from a rounding error of Rs.686 crore a decade ago to north of Rs.23,000 crore, with New Delhi openly targeting Rs.50,000 cror...