Indian investors rush into highly valued defence stocks

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The story "Indian investors rush into highly valued defence stocks" was covered 1 days ago by Financial Times, a news publisher based in United States.

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Financial Times 1d ago

Indian investors rush into highly valued defence stocks - Financial Times

Quick Summary:

The prime minister has set an annual target of nearly $35bn by the end of the decade for domestic defence production, from about $20bn this year.

The government allocated about $20bn for military modernisation for the fiscal year ending March 2025 — marginally up from $19bn last year — of which 75 per cent is earmarked for the domestic industry.

But he noted that state-owned companies still dominated the sector and the government maintained a shareholding of about 80 per cent in some of the largest companies.“Unlike most other spaces that are truly open, this is not an entirely open space,” Balasubramanian said.