Categories
Sectors

DEFENCE & INTERNAL SECURITY

Defence

The area of Defence has undoubtedly been one of the most highly sensitive sectors for any country, particularly due to the strong connect it has with national security and sovereignty. Couple this with the shoot up of global terror attacks – warranted by the disappearance of territorial borders from globalization and technology – along with escalating tensions amongst various nations, having a well-equipped defence system in place is paramount.

In light of this, many countries have kicked in their military expenditure, with global defence spending on the rise since 2011. India has changed gear to transform its originally import-led defence industry into one that is self-reliant in nature. The rising import bill, which has leapt by 43% between 2007-2011 and 2012-16, presents a huge concern as it signals the Indian market is overly-dependent on other nations for its arms. This has prompted rapid change in this sector over the recent years, driving the government to re-design policies and align the “Make-in-India” initiative to encourage domestic manufacturing to a new level.