Pre-Budget Expectations on Defense Manufacturing Sector by Jaikaran Chandock, Director, Balu Forge Industries Ltd
Below the Pre-Budget Expectations on Defense Manufacturing Sector by Jaikaran Chandock, Director, Balu Forge Industries Ltd
"India’s defence ecosystem has undergone a decisive shift over the past decade, from import dependence to an emerging global manufacturing and export hub. As we enter the next phase, Budget 2026 needs to initiate a deeper structural transformation. A meaningful increase in defence allocation is essential given the evolving geopolitical scenario and India’s ambition to achieve Rs.50,000 crore in defence exports by 2030. The focus needs to remain on boosting self-reliance in defence manufacturing. There should more budgetary provision to encouraging procurement of indigenously-made equipments. Incentivising private investment needs to be prioritised to unlock growth. Budget allocation in defence R&D needs to increase to boost innovation in defence manufacturing. With consistent policy support, technology-led innovation, and broad-based manufacturing capability, India has the opportunity to establish itself as a globally competitive defence manufacturing and export hub."
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