New Delhi, March 15 -- India's defence sector is poised for substantial growth amid global shifts according to a report by Nuvama. Defence exports are expected to reach Rs 203 billion in FY25, with a government target of Rs 500 billion by FY29.

European defence orders could begin flowing as early as the first half of FY26, marking a major milestone for the sector.

Given Europe's manufacturing constraints, Indian defence companies are well-positioned to capitalize on rising export opportunities. Europe's limited local manufacturing capacity and workforce shortages are opening doors for Indian defence manufacturers to step in.

"Europe's defence expansion is constrained by limited local manufacturing capacity and skilled workforce shortag...