The Nifty India Defence PR index has declined nearly 22% from its 52-week high, steeper than the Nifty 50’s 10% drop.
But with the revival of the US-India trade discussions, India could not just gain access to advanced defence technology but also score tariff benefits, said Ashwini Shami, executive vice president and portfolio manager at OmniScience Capital. The bilateral trade agreement being discussed could include reciprocal defence procurement that would allow India to export to the US, he added.