Private capex revival in India expected only next year: S&P Global

S&P Global Ratings predicts a delay in India's private capital expenditure (capex) revival until the next fiscal year due to global tariff uncertainty. While a $800-850 billion private capex is projected over the next five years, investment decisions are currently hampered by volatility. India's economic outlook beyond 2025 hinges on managing global tariff impacts and utilizing domestic policy levers. Despite this, government capex is budgeted to grow 10.1% and credit growth is estimated at 11-12%, potentially reaching 12-13% with a shift in corporate funding.

Canada's immigration system faces a significant backlog, with nearly 959,000 applications delayed as of August 31, 2025—a 44% increase from June. This represents a 43.6% delay rate in the overall 2.19 million application inventory. The rising backlog impacts various sectors, from tech to healthcare, as Canada's economy relies heavily on immigrants (23% of the population, 29% of the workforce). While citizenship applications show a smaller backlog (19.7%), overall processing delays are causing significant concern, affecting families, workers, and employers alike. The increase in delayed applications over a short period highlights the urgent need for improvements to Canada's immigration processing system.

US green card holders can travel internationally, but extended absences can jeopardize their residency. Trips under six months are generally fine. Six-month to one-year absences may raise questions about abandoning permanent residency, while absences exceeding a year usually require a re-entry permit (Form I-131). USCIS considers factors like maintaining US ties (family, employment, taxes, address, assets) when evaluating potential abandonment. A valid green card (Form I-551) is needed for re-entry, alongside other identification. Losing a green card or permit abroad necessitates filing Form I-131A for a travel document. If a green card or re-entry permit is lost, stolen or destroyed while travelling, the holder may need to file Form I-131A,AA.

Canada's immigration system faces a significant backlog, with nearly 959,000 applications delayed as of August 31, 2025—a 44% increase from June. This represents a 43.6% delay rate in the overall 2.19 million application inventory. The rising backlog impacts various sectors, from tech to healthcare, as Canada's economy relies heavily on immigrants (23% of the population, 29% of the workforce). While citizenship applications show a smaller backlog (19.7%), overall processing delays are causing significant concern, affecting families, workers, and employers alike. The increase in delayed applications over a short period highlights the urgent need for improvements to Canada's immigration processing system. Within standard: 208,300 (80.3 per cent).

Agoda reports a 67% year-over-year surge in international Diwali travel searches (Feb-Aug for Oct 17-23 check-ins). Significant growth originated from South Korea (45%), Thailand (nearly double), Malaysia (25%), the UAE (87%), and the US (28%). This contrasts with India's overall FTA numbers, still 13% below pre-pandemic levels. Domestic searches increased 18%, with Goa as the top Diwali destination, followed by Udaipur and Jaipur (showing 49% and 46% search growth respectively). New Delhi and Mumbai also saw substantial increases in searches, highlighting their appeal for both domestic and international travelers during Diwali. The data underscores growing global interest in India's cultural festivals and tourism potential.

India's cabinet approved a significant infrastructure investment package. A major component is a ₹2,192 crore railway line expansion in Bihar, doubling the Bakhtiyarpur-Rajgir-Tilaiya line (104km), enhancing accessibility to tourist and religious sites, benefiting 1.34 million people. The broader package also encompasses highway improvements, maritime development, and a productivity-linked bonus for railway employees. This comprehensive plan boosts nationwide employment and infrastructure, significantly improving India's connectivity and driving economic growth. The initiatives represent a substantial commitment to national development and improved regional access.

India's Reserve Bank (RBI) is expected to hold its key interest rate at 5.50% through year-end, according to a Reuters poll. While India's economy grew strongly (7.8%) last quarter due to government spending, private investment remains weak, hindering the full impact of past rate cuts. Inflation is within the RBI's target, but a weakening rupee, fueled by global uncertainties (US trade tensions, new visa rules), poses a risk. Most economists polled (45 of 61) predict no rate change at the upcoming meeting, citing limited monetary policy impact on growth and stagnant wage growth. A small majority now expect rates to remain unchanged until at least end-2025, a shift from previous predictions.

Violent protests erupted in Leh, Ladakh, demanding statehood and Sixth Schedule inclusion, resulting in four deaths. Protesters clashed with police, targeting a BJP office and a CRPF vehicle, prompting police response with tear gas and batons. The intensity of the unrest necessitated troop reinforcements, revealing deep-seated dissatisfaction with Ladakh's current status and a perceived lack of government attention. This tragic escalation underscores the urgent need for immediate dialogue and a comprehensive solution to address the region's longstanding grievances and political aspirations. The violence highlights the critical importance of resolving the underlying issues fueling the protests to prevent further bloodshed and unrest.

Indian stock markets closed higher on September 18th, 2025, boosted by a 25 basis point US Federal Reserve rate cut. The Sensex gained 126 points (0.15%) to 82,820, and the Nifty rose 52 points (0.21%) to 25,382. Top Sensex gainers included Infosys, Sun Pharma, and HDFC Bank, while Bajaj Finserv and Tata Steel lagged. Midcap and Smallcap indices also saw modest gains. Nifty Pharma, Healthcare, and IT sectors outperformed, contrasted by losses in Media, PSU Banks, and Auto sectors.

In poll-bound Bihar, PM Modi addressed women voters, highlighting GST rationalization to ease household budgets and vowing to expel infiltrators. He inaugurated projects worth ₹40,000 crore in Purnia, including an airport, and announced ₹475 crore for the makhana sector. Accusing the Congress-RJD alliance of supporting infiltrators and vote-bank politics, Modi praised Bihar CM Nitish Kumar's leadership and their joint women-centric initiatives. Kumar reaffirmed his NDA allegiance, criticizing past alliances with RJD-Congress, and praised the Union Budget's Bihar-focused schemes.

Bank credit is projected to grow 11-12% in H2 FY26, driven by government support, increased consumption, and improved liquidity. Retail credit will lead at 13%, while corporate loans are expected to rise to 9.7% from 5.5% in Q1. NBFC credit growth is forecast at 15-17%. The slower-than-expected corporate loan growth in Q1 (3.8% YoY until July 2025) was due to a 60%+ surge in corporate bond issuances, as bond yields fell faster than bank lending rates following repo rate cuts.

Taneira, Titan's ethnic wear brand, projects a 30% sales surge this festival season, fueled by increased demand after a subdued previous year. This growth is attributed to accessible pricing (cotton sarees from ₹1200, silk from ₹6999), a new bridal lehenga line (₹60,000), and a larger number of wedding dates. The new lehengas aim to expand Taneira's customer base and become a one-stop bridal shop. Ready-to-wear, currently 15% of sales, is projected to reach 20% in three years.

JSW Group, spearheaded by Sajjan Jindal, has rapidly expanded from a small steel plant to a $23 billion conglomerate. Its success stems from strategic diversification, initially building verticals (energy, cement, infrastructure, paints) supporting its core steel business. This integrated approach, leveraging synergies and mitigating risks through diversified customer bases, has been crucial. Significant investment (~₹2 trillion) over two decades fueled this growth, with steel remaining the revenue driver (88%). includes a major push into electric vehicles (EVs), involving a joint venture with SAIC Motor and plans for independent EV bus/truck and car manufacturing facilities.

President Trump called Prime Minister Modi to wish him a happy 75th birthday, a gesture signifying a renewed effort by Washington to strengthen US-India relations. Modi reciprocated the sentiment on social media, expressing his commitment to elevating the India-US Comprehensive and Global Partnership. He also voiced support for Trump's initiatives regarding a peaceful resolution to the Ukraine conflict. The call, made a day before Modi's birthday, underscores the importance both leaders place on the bilateral relationship. This outreach is viewed as a key step in resetting ties between the two nations.

Indian electric two-wheeler (e2W) manufacturers are clashing with domestic motor suppliers over government subsidies. E2W makers want an exemption from localization rules for electric motors, allowing continued receipt of a ₹5,000 per vehicle subsidy. They argue they only send sub-assemblies to China for magnet integration due to current rare-earth import limitations, with suppliers managing the process. However, component manufacturers counter that they've invested significantly in domestic motor production based on OEM commitments.

Three armed robbers, disguised as customers, executed a daring heist at an SBI branch in Karnataka's Vijayapura district. Posing as an account opener, one robber gained access to the strong room, threatening staff with a gun. Two accomplices then entered, tying up staff and customers before stealing over ₹21 crore (approximately $2.5 million USD) in cash and gold. The robbers, wielding country-made pistols and knives, escaped in a Suzuki vehicle with a fake license plate, fleeing towards Maharashtra. This incident, involving gunfire, marks the second bank robbery in the district within four months, prompting a large-scale police investigation.

Apollo Tyres secured the lead sponsorship for the Indian cricket team, outbidding Canva and JK Cements with a INR 579 crore offer. This three-year deal covers 142 matches and significantly surpasses the BCCI's base price. The previous sponsor, Dream11, withdrew due to India's online gaming regulations. Apollo's win reflects the immense commercial value of Indian cricket, garnering record-breaking sponsorship revenue and providing Apollo with substantial global brand visibility. The BCCI's strict bidding criteria excluded companies linked to gambling or tobacco, ensuring a diverse range of potential sponsors.

Eternal, Zomato's parent company, achieved a market capitalization of ₹3.16 trillion, surpassing major Indian firms like Adani Ports (₹3.03 trillion), ONGC (₹2.96 trillion), Bharat Electronics, Adani Enterprises, Wipro, Tata Motors, and Coal India. This significant milestone places Eternal among India's top companies, though still behind giants such as Reliance Industries, HDFC Bank, and Bharti Airtel. Eternal's stock price closed at ₹327.3, a 1.24% daily increase. This surge highlights investor confidence in the company's growth trajectory.

Indian stock markets surged Tuesday, fueled by positive India-US trade discussions and anticipated US interest rate cuts. Brendan Lynch's visit to New Delhi for tariff talks boosted investor confidence, with hopes of tariff reductions. Global optimism ahead of the Federal Reserve's meeting, expecting a 25-basis-point rate cut, further contributed to the rally. The Sensex gained 0.73% to 82,380.69, and the Nifty 50 climbed 0.68% to 25,239.10, driven by gains in auto, realty, and IT sectors.

The Google Pixel 10 Pro, a compact flagship phone, prioritizes AI powered by its Tensor G5 chip and Gemini models. While retaining its predecessor's design with minor improvements (new colors, brighter display), its AI features are iterative. The camera benefits most, with helpful (though sometimes intrusive) Camera Coach and impressive Pro Res Zoom, though Samsung's Single Take remains superior. Android 16 offers a clean interface and long-term updates, but other AI features like Magic Cue underwhelm. A significant improvement is Gboard's Gemini-powered writing assistance. The display lacks Dolby Vision, and while audio is better than previous models, Dolby Atmos support is absent.

Indian stock markets slumped on July 25, 2025. The Sensex closed down 0.72% at 81,589, while the Nifty50 fell 0.75% to 24,874. Bajaj Finance and Bajaj Finserv spearheaded the decline, each losing around 5%, alongside PowerGrid, Tata Motors, and Infosys. Other significant losers included Shriram Finance, Bajaj Auto, and IndusInd Bank. The downturn was more pronounced in mid- and small-cap indices, which plummeted by 1.4% and 1.9% respectively. The overall market exhibited considerable weakness across major sectors.

A deadly botulism outbreak in Italy, linked to contaminated preserved vegetables, killed two and hospitalized many. The UK also issued a warning about potentially contaminated broccoli. Clostridium botulinum, the culprit, thrives in anaerobic conditions created during canning, producing a tasteless, odorless toxin. Improper canning of low-acid foods allows spores to germinate and release this potent neurotoxin, causing muscle weakness, paralysis, and potentially death. Symptoms appear within 18-36 hours, mimicking other conditions, requiring lab testing for diagnosis.

Wealthy American trophy hunter Asher Watkins was killed by a Cape buffalo in South Africa. The incident, quickly becoming a viral sensation, sparked intense online debate. While some expressed sympathy, many celebrated Watkins' death as karmic retribution for his history of big-game hunting. Social media flooded with comments framing the buffalo's actions as self-defense, with widespread support for the animal and condemnation of Watkins' activities. The event became a symbol of the clash between those who view big-game hunting as sport and those who see it as unethical killing. Public opinion overwhelmingly favored the highlighting a significant shift in sentiment toward trophy hunting.

Salman Khan's "Battle of Galwan" has begun filming. The Instagram reveal shows Khan in military attire, sporting a rugged look, hinting at the film's patriotic theme. Directed by Apoorva Lakhia, this military drama recounts the 2020 Galwan Valley clash between Indian and Chinese soldiers—a brutal hand-to-hand conflict using makeshift weapons. The film marks Salman and Chitrangda Singh's first on-screen pairing, with Singh playing opposite Khan, her "strength and sensitivity" complementing his "brooding strength." High expectations surround this project, anticipated as a powerful tribute to the Indian military's bravery during this emotionally charged event.

Onam, Kerala's vibrant 10-day harvest festival (August 26 - September 5, 2025), celebrates the legendary King Mahabali's return and symbolizes unity and prosperity. This significant cultural event features the sumptuous Onasadya feast, breathtaking pookalam (flower rangoli) creations, and thrilling vallam kali (boat races). It showcases Kerala's rich heritage through traditions passed down through generations, fostering community spirit and joy. The festival commemorates a time of abundance and happiness under Mahabali's benevolent rule, making it a cherished occasion for Keralites and a spectacle for visitors.

The Asia Cup 2025 opens September 9th in Abu Dhabi with Afghanistan, strong favorites, facing Hong Kong. Afghanistan boasts a formidable squad featuring explosive openers Gurbaz and Zadran, all-rounders Janat, Naib, and Omarzai, and a world-class spin trio of Rashid Khan, Mujeeb ur Rahman, and Noor Ahmad. Hong Kong's batting relies heavily on Hayat and Rath, but their middle order lacks consistency. The Zayed Cricket Stadium pitch is expected to offer a balanced contest. Early movement will favor seamers, while accurate spinners can be effective. However, evening dew will likely ease batting conditions, favoring the chasing team.

The Asia Cup T20's officiating team has been announced. Veteran match referees Richie Richardson and Andy Pycroft will lead, with Pycroft specifically assigned to the crucial India-Pakistan match on September 14th in Dubai. A diverse panel of umpires representing India, Sri Lanka, Afghanistan, Pakistan, and Bangladesh will also participate in the group stage. This includes Virender Sharma, Rohan Pandit (India), Raveendra Wimalasiri, Ruchira Palliyaguruge (Sri Lanka), Ahmad Pakteen, Izatullah Safi (Afghanistan), Asif Yaqoob, Faisal Afridi (Pakistan), and Gazi Sohel, Masudur Rahman (Bangladesh).

Thailand's Supreme Court upheld a one-year prison sentence for former Prime Minister Thaksin Shinawatra, currently investigating potential mishandling of his 2023 return. After a self-imposed exile, Thaksin's initial imprisonment lasted less than a day before transfer to a hospital suite, citing medical reasons. His eight-year sentence for corruption was commuted to one year and he was paroled after six months. The swift transfer and preferential treatment sparked widespread accusations of special privileges and questions about the veracity of his claimed illness. The investigation centers on whether officials facilitated this lenient handling of his incarceration.

Dunwoody, Georgia, a suburb of Atlanta, utilizes Flock Safety's AI-powered surveillance system to combat crime. The system integrates over 100 cameras, gunshot detectors, and drones, automatically capturing vehicle data (license plates, make, model, etc.) and uploading it to a cloud-based platform. Police can search this database, track vehicles across jurisdictions, analyze live feeds, and even use AI for 911 call transcription. Flock Safety's founder envisions a crime-free US within a decade through this technology combined with social programs. However, concerns exist regarding privacy, particularly with upcoming Nova platform, which integrates surveillance data with public records.

WhatsApp's iOS beta (25.24.10.72) now lets users share Live Photos in their original format, including motion and audio. Previously, shared Live Photos became static images. This update allows recipients to view the full Live Photo experience with a dedicated playback button. The Live Photo retains its original format even after being saved to the iOS Photos app. This rollout is currently limited to select beta users but will expand to more iOS users soon, offering a more immersive way to share dynamic memories. The feature addresses past limitations where only static images or less-than-ideal GIFs were options for sharing Live Photos.

India's GST Council implemented a simplified two-tier tax structure (5% and 18%), effective September 22nd, impacting 375 items. CBIC chief Agarwal emphasizes proactive outreach by tax officers to assist businesses, especially MSMEs, in adapting to the changes. Reduced rates on essentials aim to lower household expenses and boost production by making inputs cheaper for farmers and manufacturers. This reform, shifting to a more citizen-centric system, is expected to benefit consumers and stimulate economic growth, although tobacco products will retain a higher tax until December 31st. The goal is seamless transition and maximized benefit from the simplified structure for all stakeholders.

India's National Green Hydrogen Mission aims to reduce green hydrogen production costs to $2/kg by 2032-35, matching brown hydrogen prices. This requires addressing challenges like high initial investment, securing long-term contracts, and establishing supportive policies, mirroring the success of solar energy cost reduction. Green hydrogen is crucial for decarbonizing sectors like steel, with the government investing ₹455 crore in pilot projects for hydrogen use in steel production, including partial natural gas substitution and blast furnace injection.

Infosys, India's second-largest software services provider, is considering a fifth stock buyback, potentially boosting its share price after a 28% drop from its peak and a 24% decline this year. This follows a previous buyback in December 2022. The decision, surprising given the removal of a previous tax advantage, suggests Infosys lacks immediate plans for large acquisitions or expansions, opting instead to reward shareholders with its substantial cash reserves (nearly ₹40,000 crore).

PM Modi announced ₹1500 crore immediate relief for flood-ravaged Himachal Pradesh, including ₹2 lakh ex-gratia for deceased kin and ₹50,000 for the injured. Following an aerial survey and meeting with state officials, he pledged comprehensive support for rebuilding infrastructure, homes (PM Awas Yojana), schools, and restoring national highways. Assistance will also include livestock relief, water harvesting initiatives, and expedited aid through existing schemes like PM Kisan and SDRF. The central government will further assess damage based on state reports and inter-ministerial team findings, promising continued support and collaboration with the Himachal Pradesh government.

Operation Sindoor saw India achieve a decisive military victory over Pakistan, forcing a ceasefire on May 10th. India's diplomatic strategy, supported by military action, garnered significant global support for its counter-terrorism efforts. However, India's information warfare performance was weaker, hampered by domestic media inaccuracies and Pakistan's disinformation campaign. Concerns about India-Pakistan "re-hyphenation" and Kashmir's internationalization are dismissed as inaccurate early analyses. While Trump's premature claim of a ceasefire influenced perceptions, it didn't alter the underlying reality of India's military pressure forcing Pakistan's concession.

India's Ministry of Heavy Industries mandated automakers to display posters at dealerships nationwide, showcasing pre- and post-GST reduction prices. These posters must include Prime Minister Modi's photograph. Instructions were relayed through the Society of Indian Automobile Manufacturers (Siam). The cost of creating and distributing these posters (estimated at ₹20-30 crore) remains unclear, with

Mistral Solutions, a subsidiary of AXISCADES Technologies, has won a significant contract from India's DRDO for developing 10 electronic control units (ECUs) for the Su-30MKI fighter jet's cooling system upgrade. This prototype order, awarded by CASDIC, anticipates a substantial follow-on production order for 600 ECUs, signifying a major contribution to the Su-30MKI modernization program. The contract underscores Mistral Solutions' expertise in airborne systems development and integration for the Indian defense sector.

Fighter jets are high-performance military aircraft optimized for air-to-air combat, boasting powerful engines and advanced technology. In contrast, "Fair craft" can refer to Fair Craft, a company championing traditional, handcrafted goods. This company supports artisans and the preservation of age-old crafting techniques by selling their products. The juxtaposition highlights the stark difference between military technology and the artistry of traditional craftsmanship. One represents advanced weaponry, the other, the enduring value of handmade artistry and cultural heritage.

India's DRDO successfully developed a naval flare for its Kalvari-class submarines. The High Energy Materials Research Laboratory (HEMRL) created the "Signal Star" flare, enhancing India's underwater warfare capabilities. The system was formally handed over from HEMRL's director to the Director General of Naval Armament Inspection, signifying a major step towards self-reliance in crucial defense technologies. This achievement underscores India's commitment to #AtmanirbharBharat (self-reliant India) and strengthens its naval defense. The flare's development highlights HEMRL's expertise in high-energy materials research.

Commerce Minister Piyush Goyal emphasized ensuring recent GST reductions benefit consumers, boosting industry and trade. He lauded the extensive GST rationalization, predicting increased job creation and consumer spending due to the simplified two-tier structure (5% and 18%) and 40% sin tax. Goyal celebrated EEPC India's export growth from $10 million in 1955 to a projected $116 billion in 2024-25, highlighting India's robust economic performance (7.8% GDP growth last quarter).

The US will eventually realise that India cannot be bullied, but things may get much worse before they get better

The Securities Appellate Tribunal (SAT) is hearing Jane Street's appeal against a SEBI order accusing the HFT firm of Nifty Bank index manipulation. SEBI alleges a two-legged strategy inflating the index and demands ₹4,844 crore in alleged profits. Jane Street denies manipulation, citing prior investigations finding no wrongdoing and arguing its trades were routine index arbitrage. The dispute centers on SEBI's refusal to disclose details of its investigation, including the complaint triggering it and specific trade data, while SEBI argues the withheld information is irrelevant or would cause confusion.

India's 15-year defense modernization plan prioritizes bolstering domestic capabilities and reducing reliance on foreign suppliers. A key element is the construction of a third, nuclear-powered aircraft carrier, a first for India, enhancing its strategic reach in the Indian Ocean. This necessitates at least 10 nuclear propulsion systems. The plan also includes the navy's first use of domestically produced fighter jets (from Hindustan Aeronautics Ltd), supplementing the recently acquired French Rafale-Marine jets. Electromagnetic aircraft launch systems and drones, crucial in recent conflicts, are also highlighted.

JM Financial downgraded infrastructure, defense, industrials, ports, power utilities, banks, NBFCs, and insurance to "underweight." Fiscal constraints, stemming from anticipated GST and income tax cuts causing short-term revenue losses, are expected to curb infrastructure and defense spending. Weakening credit growth (currently at 10% YoY, down from projected 12%), coupled with rising asset quality stress in retail and now MSME lending, further fuels their bearish outlook on the financial sector. Delayed demand due to GST cuts and US tariffs impacting export-oriented MSMEs contribute to a postponed capex pickup, leading to a projected near-term loan growth of around 10%.

Adani Ports (APSEZ) and JSW Infrastructure saw significant intraday share price increases on Tuesday. JSW Infra surged 4% to ₹313.80, while APSEZ climbed 2% to ₹1,379. This positive movement is attributed to a promising business outlook. Trading volume for APSEZ more than tripled, indicating strong investor interest. Over the last two trading days, APSEZ has experienced a cumulative 4% price rally. The overall market sentiment for both companies appears bullish, driven by expectations of continued growth.

Alembic Pharmaceuticals received US FDA approval for its Phytonadione Injectable Emulsion, a generic version of International Medication Systems' product. This injectable emulsion treats vitamin K deficiency and related bleeding, particularly in newborns. The FDA approval covers a 1mg/0.5mL single-dose prefilled syringe. Market research (IQVIA) estimates a $44 million US market within the next year. This approval significantly expands Alembic's presence in the US vitamin K deficiency treatment market.

Post-menopause can be challenging, but dietary changes can ease symptoms. Nutritionist Deepsikha Jain recommends four superfoods: Flaxseeds, rich in phytoestrogens, balance hormones, reducing hot flashes and mood swings; add them to smoothies or salads. Ragi (finger millet), high in calcium, strengthens bones and joints; incorporate ragi roti or porridge. Dark chocolate, packed with magnesium and antioxidants, boosts mood, improves circulation, and promotes better sleep; enjoy a small square daily. These simple additions can significantly improve post-menopausal well-being.

Sebi's investigation into Jane Street Group's alleged Nifty Bank index manipulation continues, despite a lifted trading ban. Sebi, while refusing to share all investigative documents with the Securities Appellate Tribunal (SAT), maintains its probe is crucial. The July order accused Jane Street of earning ₹4,840 crore illegally through index arbitrage, a claim the firm denies. Jane Street highlights inconsistencies in Sebi's reports, noting a lack of manipulative evidence in one internal report despite the charges. They also contest the withholding of documents, including communications with the NSE and Mayank Bansal, claiming it violates due process.

JSW MG Motor India and Kia India are passing on the full benefits of the recent GST reduction to customers. MG Motor's price cuts range from ₹54,000 to ₹304,000 across its Astor, Hector, and Gloster SUVs, effective September 7th. This move, according to MG's chief commercial officer, aims to boost affordability and consumer confidence, particularly ahead of the festive season. Kia's reductions, effective September 22nd, vary from ₹48,513 on the Carens to ₹448,542 on the Carnival. Both companies highlight the move as a commitment to customer trust and easier vehicle ownership.

Operation Sindoor showcased India's burgeoning private defense sector, significantly contributing with indigenously developed drones and other equipment. This success, highlighted by Prime Minister Modi, marks a dramatic shift from the previous public sector dominance. While the private sector's growth has been hampered by historical restrictions and bureaucratic hurdles, the "Make in India" initiative and policies like iDEX have fostered its expansion, increasing its share of defense production to over 20%. However, challenges remain: government procurement processes still favor the public sector, and private R&D investment is insufficient.