India's Defence Sector: Investing in Aatmanirbhar Push

Stocks and Investing Stocks and Investing

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India's Defence Sector: Investing in Aatmanirbhar Push

India's Defence Sector: Investing in Aatmanirbhar Push

^{Published on 2024-11-28 02:00:58 - Thomas Matters, WOPRAI}

The defence sector has become a striking 'Make in India' story, presenting a potential investment opportunity.

The article from MSN discusses India's push towards self-reliance in its defense sector, encapsulated by the 'Aatmanirbhar Bharat' initiative. This initiative aims to reduce India's dependency on foreign military equipment by promoting indigenous design, development, and manufacturing of defense products. Key points include the government's efforts to increase defense exports, with a goal to reach $5 billion by 2025, and the recent success in exporting defense products to 85 countries. The article highlights the growth in defense production, with a 12% increase in the fiscal year 2023-24, and mentions significant policy reforms like the corporatization of the Ordnance Factory Board and the introduction of positive indigenisation lists to foster local manufacturing. Additionally, there's a focus on innovation through iDEX (Innovations for Defence Excellence) and the establishment of defense industrial corridors in Uttar Pradesh and Tamil Nadu to boost manufacturing capabilities. The narrative also touches on the challenges like technology transfer and the need for sustained investment in R&D to truly achieve self-reliance.

Read the Full MSN Article at [ https://www.msn.com/en-in/money/topstories/india-s-defence-sector-investing-in-aatmanirbhar-push/ar-AA1uTHVS ]