 "defence purchase, Research and development, Defence Exports, defence firms")
India’s defence modernisation budget — the outlay for acquiring weapons, systems, and platforms — must grow by nearly two and a half times by the start of the next decade to meet its ambitious defence production targets, equip the armed forces for 21st century warfare, and advance aatmanirbharta, say experts. Simultaneously, the share of research and development (R&D) in total defence expenditure needs to more than double, while the industry must triple the share of such spending in revenue.
With India fully utilising its military modernisation budget in 2024-25 (FY25), the first time in five years, and signing record ₹2
