Larsen & Toubro (L&T) is on track to hit US$ 1 billion in defence-business revenue this fiscal year. This growth is part of India’s strong push for local defence manufacturing, which gives L&T a major edge. The company said around 95% of its defence revenue is now domestic.
L&T is working on several key military projects, including trials of a light tank for the Indian Army and air-defence systems for the Air Force. These efforts underscore its commitment to expanding its precision engineering and systems business in hi-tech manufacturing.
Only three Indian companies — HAL, BEL, and Mazagon Dock — have larger defence revenues. With this $1 billion milestone, L&T will cement its position as the top private defence equipment supplier in India. It also shows L&T’s strategy is aligned with the government’s plan to source at least 75% of defence purchases locally, up from 68% in 2022.
The company says its long-term goal is to scale the defence business further and strengthen its role in the national security ecosystem.
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