India, June 28 -- India's defence modernisation is no longer a distant policy goal. With the government committing a Rs.6.81 lakh crore defence budget for FY26, reserving 75 percent of its capital acquisition spending for domestic industry, and setting a production target of Rs.3 lakh crore by 2029, the procurement pipeline running through India's private defence supply chain has never been larger or more visible. Operation Sindoor further underscored the urgency of building deep, indigenous capabilities across every layer of the weapons ecosystem.

The most interesting opportunity in this cycle is not at the platform level but one step below among the specialist suppliers embedded inside missiles, radar arrays, submarines, and electroni...