Budget tracker
High activity India's FY2026-27 defence budget hit a record ₹7.85 lakh crore, with ₹1.85 lakh crore earmarked for capital acquisition and 75% of that ring-fenced for domestic industry under Aatmanirbhar Bharat. The acquisition cycle is running hot: the DAC cleared roughly ₹52,000 crore of fresh Acceptances of Necessity on 3 July after a record ₹6.73 lakh crore of AoNs in FY26, the ₹70,000-crore Project-75I submarine deal is awaiting Cabinet Committee on Security clearance, and the ₹30,000-crore 87-UAV tender has moved into bid evaluation.
Updated 10 Jul 2026
Conflict monitor
High activity The war has entered its fifth summer with Russia's ground offensive stalling — a net gain of roughly 97 sq km in the first half of 2026 at a cost of nearly 40,000 casualties in June alone — even as both sides escalate deep strikes: Russia's July 1-2 barrage on Kyiv was its largest air attack of the war, while Ukraine's drone campaign has knocked out an estimated 30-43% of Russian refining capacity, forcing Moscow to import gasoline from India. Peace diplomacy is frozen after Putin rejected Zelensky's June ceasefire-and-summit offer, and the war continues to reshape India's defence calculus, from delayed S-400 deliveries to a procurement tilt toward drones and counter-drone systems.
Updated 8 Jul 2026
Exercise watch
High activity The 2026 Indo-Pacific exercise season is at peak tempo: RIMPAC 2026, the world's largest naval exercise, is underway around Hawaii with 30 nations and roughly 30,000 personnel — India among them with a P-8I — days after the US and partners wrapped Valiant Shield 2026 in the Marianas with a live-fire sinking of USS Juneau. Taiwan is running an April-to-August whole-of-society resilience programme, including a rare Nantou drill pairing a Chinese blockade with an earthquake, ahead of its Han Kuang No. 42 war games from 5 August, while the IAF sends Rafales to Australia's 19-nation Pitch Black from 20 July.
Updated 3 Jul 2026
Procurement tracker
Negotiation India's largest conventional submarine procurement — six AIP-equipped, Type 214-derived boats to be built by Mazagon Dock Shipbuilders in Mumbai with Germany's thyssenkrupp Marine Systems — has cleared cost negotiations and Finance Ministry approval and now sits with the Cabinet Committee on Security for final clearance before contract signature, which Berlin expects around mid-2026. Urgency has sharpened since Pakistan commissioned the first of eight Chinese-built Hangor-class AIP submarines in April 2026 and sailed it into Karachi in June. First P-75I delivery is expected roughly seven years after the contract is signed.
Updated 29 Jun 2026