India, Nov. 28 -- The Indian government's policy reforms and regulatory framework have played a crucial role in fostering growth in the defence manufacturing sector. The "Make in India" initiative, coupled with the Defence Procurement Procedure (DPP) 2016, has encouraged domestic manufacturing and indigenization. The government's decision to raise the Foreign Direct Investment (FDI) cap to 74% under the automatic route has further facilitated foreign collaborations.

Vipul Joshi, CFO of ideaForge, highlights the transformative impact of the "Make in India" initiative on India's defence manufacturing sector, particularly in UAV technology. By developing advanced drones domestically, ideaForge has reduced dependence on imports, promoted loc...