India signs ₹6,000 crore BrahMos missile supply deal with Vietnam:How much does the country’s ₹1.74 lakh crore defence sector contributes to GDP?

India has signed a deal with ​Vietnam under which it will ‌supply BrahMos missiles (jointly developed with Russia) and ​the deal could be worth ₹6,000 crore, said news agency, ‘Reuters’. Speaking at Asia’s ‌premier ⁠defence forum, the Shangri-La Dialogue, India’s Defence Secretary Rajesh ​Kumar Singh said on Saturday, 30 May, 2026, that India was in ‘final stages’ for ​a similar deal with Indonesia. The country had earlier sold the supersonic cruise missiles ​to the Philippines, added the news agency. How big is India’s defence sector? Market Size: The Indian defence market is worth around ₹1.74 lakh crore as of 2025. GDP Contribution: India currently spends between 1.9% and 2% of its Gross Domestic Product (GDP) on defence. Government Budget: In the latest 2026-27 budget, the Indian government had made a record-high allocation of ₹7.85 lakh crore to the Ministry of Defence. Out of this, the government set aside ₹1.39 lakh crore just to buy weapons from local Indian companies to support the flagship ‘Make in India’ plan. Employment: The defence industry employs around 0.29 crore people including soldiers, reserve forces, and civilian workers. Which companies manufacture the BrahMos missiles in India? BrahMos Aerospace, which is a joint venture of the DRDO (Defence Research and Development Organisation) and Russia’s NPO Mashinostroyeniya manufactures BrahMos missiles. Performance of defence stocks: People who invested money in Indian defence companies have made massive profits in the past. Because the government aims to give huge orders to indigenous companies, defence stocks have shot up substantially over the last five years.