India's Defence Stocks Surge Amid Economic Slowdown
India's Defence Stocks Surge Amid Economic Slowdown India’s economy, projected to grow at 6.4% in the fiscal year 2024-25, is facing its slowest expansion in four years, according to recent government forecasts. This slowdown is attributed to weaker manufacturing output and declining corporate investments. Despite this, the defence sector is witnessing a significant boom, with retail investors pouring funds into defence stocks. Prime Minister Narendra Modi’s push for domestic arms manufacturing has led to a 56% rise in the sector index over the past year. Major asset management firms are launching defence-specific funds to capitalize on the growing market, signaling long-term investor confidence in the sector. Meanwhile, global corporations are eyeing India for industrial expansion. Japan’s Nippon Steel, for instance, has announced plans to ramp up steel production through its joint venture with ArcelorMittal. This move comes as the company seeks to counter the impact of cheap Chin...