NEW DELHI/MUMBAI, Dec. 21 -- Defence and aerospace companies are competing with high-frequency trading companies and tech giants in the clamour for engineers from the Indian Institutes of Technology (IIT), buoyed by their expansion plans and the entry of private firms in the space and defence sectors.

These engineers are set to take on advanced manufacturing and product design projects in private companies based in India and seeking billion-dollar business avenues.

"With the rise of space-tech startups-not just rocket makers like Skyroot, but also many promising satellite makers and space-intelligence-based startups in Hyderabad, Bengaluru and elsewhere-for the first time, India's top-tier candidates have a reliable and promising career...