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Large domestic order book, exports growth key drivers for defence stocks

India is world's second-largest importer of defence equipment with 9% of global arms imports

defence
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Devangshu Datta

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Defence exports grew 33 per cent in the calendar year 2023 (CY23) to around Rs 21,083 crore while domestic defence orders serviced by listed companies were Rs 48,000 crore. The sector is poised for steady growth. Budgeted domestic capex is likely to hit Rs 3 trillion per annum, and exports could reach $6 billion by FY29.

There are listed high-end players in areas like electronics, aerospace, IT-enabling and material sciences. The Nifty Defence Index (NDI) of 14 listed companies has far outperformed the benchmark Nifty. The NDI has beaten the Nifty by 31 per cent and 96 per cent in

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First Published: Apr 03 2024 | 11:16 PM IST

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