Defence PSUs double order Book since FY18

Once seen as slow and bloated, India’s public defence companies have staged a serious comeback.

Since FY18, their order books have more than doubled, rising from ₹2 lakh crore to ₹4.1 lakh crore in FY25.

This isn’t by accident. The government’s Make in India push, capital procurement reforms, and rising export ambitions are giving these PSUs long-term visibility.