https://sputniknews.in/20250414/how-indias-defence-sector-is-defying-trump-global-shocks-8980703.html
How India's Defence Sector is Defying Trump Global Shocks
How India's Defence Sector is Defying Trump Global Shocks
Sputnik India
US President Donald Trump's global tariff war wiped out over $160 billion from Indian markets last week. However, Indian defence stocks remained immune to the... 14.04.2025, Sputnik India
2025-04-14T20:15+0530
2025-04-14T20:15+0530
2025-04-14T20:16+0530
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Amid market crashes worldwide, India's defence industrial complex has remained resilient and continued to grow in double digits, a military financial analyst has said.On Friday, Hindustan Aeronautics Limited's (HAL) shares traded nearly 2 percent higher, closing at INR 4,101.05. The stock value of another defence public sector undertaking (PSU), Garden Reach Shipbuilders & Engineers Ltd, jumped by 3.23 percent, touching INR 1,617, while state-run shipbuilder Mazagon Dock Shipbuilders Ltd gained 2.69 percent to end at INR 2,435 at the bourses.For the unversed, Indian markets remained shut on the occasion of Dr. Baba Saheb Ambedkar Jayanti (April 14), marking the birth anniversary of the father of the Indian Constitution.While Trump's tariffs have clearly spooked broader markets — especially in sectors like IT, manufacturing, and trade — India's defence sector operates on a different logic. It's primarily driven by domestic demand, long-term government contracts, and national security priorities, which aren't directly impacted by global tariff wars, underlined Harpreet Sidhu, Analyst, GlobalData Plc, a market intelligence firm specialising in Aerospace, Defense & Security.Moreover, India has significantly ramped up its defence procurement plans, focusing on self-reliance through 'Make in India' and 'Atmanirbhar Bharat' initiatives. State-run firms like HAL, Bharat Electronics Limited (BEL), and MDL have full order books for the next several years, giving investors confidence regardless of short-term market volatility, he added.The 12% growth in India's defence exports and the billion-dollar domestic orders bagged by HAL, GRSE, and MDL reflect a sector undergoing structural transformation, not just cyclical growth. The Indian government's push for indigenisation through policies like DAP 2020, the Defence Production and Export Promotion Policy (DPEPP), and a rising cap on Foreign Direct Investment (FDI) has created an enabling environment for both public and private players, the defence pundit pointed out.What one's seeing now is not just market confidence — it's institutional momentum. Orders for platforms like the LCA Tejas, Dhruv (helicopter), and various naval vessels indicate a long-term commitment to reduce dependence on foreign Original Equipment Manufacturers (OEMs), he explained. At the same time, export deals with Southeast Asia, Africa, and the Middle East show that India is now viewed as a credible player in the global arms market, especially in the light, cost-effective category. That said, the sector still faces challenges, from supply chain gaps to quality control in private industry, Sidhu argued.
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How India's Defence Sector is Defying Trump Global Shocks
20:15 14.04.2025 (Updated: 20:16 14.04.2025) US President Donald Trump's global tariff war wiped out over $160 billion from Indian markets last week. However, Indian defence stocks remained immune to the volatility. Sputnik India tries to find out the factors behind it.
Amid market crashes worldwide, India's defence industrial complex has remained resilient and continued to grow in double digits, a military financial analyst has said.
On Friday, Hindustan Aeronautics Limited's (HAL) shares traded nearly 2 percent higher, closing at INR 4,101.05. The stock value of another defence public sector undertaking (PSU), Garden Reach Shipbuilders & Engineers Ltd, jumped by 3.23 percent, touching INR 1,617, while state-run shipbuilder Mazagon Dock Shipbuilders Ltd gained 2.69 percent to end at INR 2,435 at the bourses.
For the unversed, Indian markets remained shut on the occasion of
Dr. Baba Saheb Ambedkar Jayanti (April 14), marking the birth anniversary of the
father of the Indian Constitution.
While Trump's tariffs have clearly spooked broader markets — especially in sectors like IT, manufacturing, and trade — India's defence sector operates on a different logic. It's primarily driven by domestic demand, long-term government contracts, and national security priorities, which aren't directly impacted by global tariff wars, underlined Harpreet Sidhu, Analyst, GlobalData Plc, a market intelligence firm specialising in Aerospace, Defense & Security.
Moreover, India has significantly ramped up its defence procurement plans, focusing on self-reliance through 'Make in India' and 'Atmanirbhar Bharat' initiatives. State-run firms like HAL, Bharat Electronics Limited (BEL), and MDL have full order books for the next several years, giving investors confidence regardless of short-term market volatility, he added.
"Add to that the rise in exports — India crossed INR 23,622 crore ($2.76 billion) in defence exports last year — and you can see why the sector looks relatively insulated. It's not immune to global shocks, but its fundamentals are driven by strategic need, not global consumer behavior or trade flows," Sidhu told Sputnik India on Monday.
The 12% growth in India's defence exports and the billion-dollar domestic orders bagged by HAL, GRSE, and MDL reflect a sector undergoing structural transformation, not just cyclical growth. The Indian government's push for indigenisation through policies like DAP 2020, the Defence Production and Export Promotion Policy (DPEPP), and a rising cap on Foreign Direct Investment (FDI) has created an enabling environment for both
public and private players, the defence pundit pointed out.
What one's seeing now is not just market confidence — it's institutional momentum. Orders for platforms like the LCA Tejas, Dhruv (helicopter), and various naval vessels indicate a long-term commitment to reduce dependence on foreign Original Equipment Manufacturers (OEMs), he explained.
At the same time, export deals with Southeast Asia, Africa, and the Middle East show that India is now viewed as a credible player in the global arms market, especially in the light, cost-effective category. That said, the sector still faces challenges, from supply chain gaps to quality control in private industry, Sidhu argued.
"But with consistent policy support and increasing collaboration between DPSUs and MSMEs, the long-term trajectory looks promising. The defence sector isn't just growing — it's maturing. India's defense sector is no longer in the shadows of foreign OEMs. It's standing tall — manufacturing, innovating, and exporting with confidence. The trajectory isn't just upward — it's transformational," the observer concluded.
