April 2, 2024 5:27 PM

Defence sector poised to experience CAGR of 13 per cent from FY23 to FY30: Jefferies

India's defence sector is expected to grow at a Compound Annual Growth Rate (CAGR) of 13% from FY23 to FY30, with an estimated domestic defence opportunity ranging between $100 to $120 billion over the next 5-6 years, according to a report by Jefferies. Although India ranks among the top three defence spenders globally, its defence expenditure in Calendar Year 2022 (CY22) merely amounted to 10 per cent of that of the United States and 27 per cent of China's. Despite this, India's coastline and...