Budget 2024: Defence allocation may be a focus, will India’s shipbuilding sector gain from it?

As the Union Budget, set to be presented on July 23, approaches, the defence sector is eagerly anticipating increased allocations, particularly in shipbuilding. Experts predict a continuation of the trend of higher defence spending. Industry expert Deven Choksey highlights significant shipbuilding needs for defence and inland transportation under the Sagarmala project, as well as commercial passenger ships.