India’s defense sector is undergoing a significant transformation, transitioning from a long-standing arms importer to a burgeoning global manufacturer, as evidenced by companies like HAL, BEL, and MDL making it to the SIPRI Top-100 arms makers. Although India currently captures only 1.1% of the global arms revenue, its rapid growth underscores a transformative shift in capabilities and production. This evolution is largely attributed to the “Make in India” initiative, which has bolstered domestic manufacturing. Meanwhile, China’s military faces uncertainty amid internal purges under Xi Jinping, indicating a potential strategic advantage for India in the global arms race and regional security dynamics.