New Delhi, Feb. 7 -- In recent years, the Make in India initiative has propelled the growth of domestic electronics manufacturing services (EMS) players such as Dixon, Amber, PG Electroplast, and EPack Durables. But its most significant beneficiaries have been defence stocks.

As India moves closer to self-reliance, a recent development signals another step forward. The Cabinet Committee on Security has approved the country's largest domestic ammunition contract-rockets worth over Rs.100 billion will be produced in India over the next decade to meet the army's needs.

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The order has been awarded to private entities Economic Explosives Ltd and Munitions India Ltd, which w...