An ode to start-ups in defence

Policy initiatives like Idex have put the defence industry on the path to self-reliance. It is time now to expand and build upon this success to achieve the broader objective of Make in India

The Indian defence industry ecosystem is buzzing with optimism. Stocks of defence companies are soaring with record price-to-earnings ratios, while venture funds and angel investors are vigorously hunting for defence start-ups. Market analysts are ramping up their defence teams. Foreign original equipment manufacturers (OEMs) are knocking on the doors of potential Indian partners for “Make in India” initiatives. From being the world’s largest importer of arms and ammunition, Indian defence exports are growing at a scorching pace, with India having a distinct possibility of becoming one of the top five defence exporters before 2030. 

Prime Minister Narendra Modi’s clarion call to strive for atmanirbharta in defence, backed by unwavering political will, has brought unprecedented change to the sector. Apprehensions that indigenous equipment compromises defence preparedness have been put to rest. On the contrary, it is now ackn