In our sector initiation report published in October 2025, we highlighted indigenization and exports as key themes for India Aerospace and Defense. Furthermore, the government's focus on drones, counter-drones and space is likely to benefit covered companies such as Solar Industries and Astra Microwave. The PM also highlighted the rapid progress made around Sudarshan Chakra (indigenized air defence system), which will likely benefit covered companies such as Solar Industries, Bharat Electronics and Bharat D ...