In a significant development, several European Union countries are looking to procure Indian-made weapons systems, fueled by U.S. calls for increased defense spending amid rising global tensions. This shift towards Indian defense offerings, characterized by cost-effectiveness and technology transfer opportunities, aligns with the EU’s need to bolster military capabilities and reduce reliance on U.S. arms. Additionally, the EU’s announcement of an $850 billion defense plan is expected to further benefit Indian defense firms like Bharat Dynamics and Solar Industries as global defense spending rises, creating avenues for partnerships and joint ventures. With India’s defense exports reaching over ₹21,000 crore in FY 2022-23, the push for self-reliance and modernization positions India as a pivotal player in the evolving global defense landscape.
