The Economic Times

Defence budget may grow 810% annually; execution key for defence stocks: Amit Anwani, PL Capital

Indias defence spending may not rise sharply as a share of GDP, but capital outlays are set to grow 810% annually, says Amit Anwani of PL Capital. Aero engines, missiles and defence electronics could benefit, while execution and order delivery will matter more than fresh allocations. Submarine orders may boost shipbuilders.