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India is one of the largest defence spenders in the world with a total expenditure of Rs. 5.25 lakh crore (US$ 66 billion) in 2022–23, or 13.31% of the overall budget.

In the next five years, the industry is predicted to increase at a 15% CAGR. This expansion will be fueled by the advent of digital media, the expansion of the middle class, and increased urbanisation. Check out our sectorial analysis to know more!