India and Sri Lanka identify new opportunities in defence cooperation
Latest news, analysis and opinions from the Daily FT, Sri Lanka's only national business newspaper. ..
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Latest news, analysis and opinions from the Daily FT, Sri Lanka's only national business newspaper. ..
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.
This opportunity allows India's defense industry to tap into a new market and sends a clear message to detractors about facing consequences for actions against India's interests.
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