Across the world, countries have been increasing defence spending due to rising geopolitical tensions, ongoing conflicts in West Asia and Ukraine, and the need to modernise armed forces. Higher defence spending serves two key purposes.

First, it strengthens a country’s military capability and preparedness for conflict. Second, it contributes to economic development by stimulating industrial activity, creating jobs, and building technological capacity

Within this global context, India’s defence ecosystem is undergoing a significant transformation.