India's defence market set for 14 per cent annual growth due to Centre's 'Aatmanirbhar' push: Report

The market opportunity for Indian defence companies is expected to witness a rise at 14 per cent CAGR (compound annual growth rate) over financial year (FY) 2024-FY 2030E (estimated), as a result of the Centre’s Aatmanirbhar (indigenisation) focus on export opportunity, Jefferis said in its sectoral report. It cited factors like global geopolitical tensions and India’s persistent focus on self-reliance and stated that such factors are resulting in order flow and revenue growth for domestic defence companies.