Article
India Defence, Aerospace & National Security 2026
India's defence market is larger on paper than in practice. The FY2026-27 Ministry of Defence budget of ₹7.85 lakh crore contains only ₹1.85 lakh crore of capital acquisition, of which ₹1.39 lakh crore is reserved for Indian industry. Against that, the Defence Acquisition Council cleared about ₹7.6 lakh crore of proposals in four meetings between February and September 2026. The gap between approvals and annual spending is the central fact for any supplier, investor or foreign OEM.
King, Stubb & Kasiva