New Delhi, Dec. 19 -- India's defence shipbuilding sector is entering a decisive growth phase, driven by a sharp increase in naval capital expenditure, a massive government policy push, and rising strategic imperatives in the Indian Ocean Region, according to a recent institutional research report by PhillipCapital.

"With over Rs 2.3 trillion of projects in various stages of execution or approval, the sector enjoys multi-year visibility across high-value platforms, including destroyers, frigates, corvettes, submarines, fleet-support ships, and aircraft carriers," the report said.

It further highlighted the recently announced Rs 697-billion Shipbuilding and Maritime Development Package, the largest maritime stimulus in the country's hist...