India is shooting for the moon with its arms-making push

Drive to increase local defense production and exports faces challenges

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20231026 Hindustan Aeronautics

A model of Hindustan Aeronautics' Sukhoi-30 MKI twin-seat fighter at an exhibition in Visakhapatnam, India in March: Stock analysts are bullish on the outlook for defense companies. © AP

Henny Sender is the founder and managing partner of Apsara Advisory, a strategic consultancy for financial services companies. She was previously a managing director at investment company BlackRock.

Russia's invasion of Ukraine unsurprisingly set off a wave of increased defense spending globally.

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