📰 India Defence Sector Update – FY25 Highlights

🚀 Record Production & Exports

• Defence production hit ₹1.5 lakh crore in FY25, nearly double FY20 levels.
• Exports surged, reflecting rising global demand for Indian equipment.

🏭 Policy & Local Manufacturing Push

• Govt focus on “Make in India” with defence corridors & tech transfer programs.
• Haryana rolled out a new policy to attract $1B investment in defence & aerospace over 5 years.

🤝 Big Contracts & Partnerships

• HAL signed a transfer of technology deal for the Small Satellite Launch Vehicle.
• Bharat Forge tied up with a UK firm for drones; its unit bagged an export deal with the UAE.
• Talks continue on a $4B P-8I naval aircraft deal.

📈 Stock Market Moves

• Shipbuilders (Mazagon Dock, GRSE, etc.) rallied on fresh orders.
• After sharp rallies earlier this year, some defence stocks corrected ~15%.
• Analysts expect selective recovery.
• Nifty India Defence Index: +3% today, +5–6% this week, still -8% in last 3 months.

⚠️ Risks to Watch

• Supply chain delays (HAL facing Tejas delivery issues).
• High valuations, risk of profit-booking.
• Govt approval delays on large contracts.