India’s private defence companies are poised to expand their footprint in the sector, but analysts warn they still lack the technology and capabilities needed to produce cutting-edge weapons for the country’s military or export markets. In the 2025-26 financial year, the private sector accounted for 24 per cent of India’s defence output, or US$4.4 billion out of a record US$18.7 billion, according to a defence ministry statement released last week. The figures reflect a gradual shift away from a...