'Make in India' initiative in the defence sector may see a boost in the upcoming budget. The upcoming budget may include increased allocation of funds and implementation of policies to support the growth of the Indian defence industry.
The Indian government's Union Budget 2023 is anticipated to prioritise modernising the nation's military due to the ongoing confrontations with China on the Line of Actual Control.
It is anticipated that the budget allocation will rise by 10 to 15 per cent in order to boost domestic defence equipment manufacture. Increased spending in the defence industry will aid businesses in its "Make in India" campaign.
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