While it is flattering the world’s top defence players are attending the DefExpo, India’s defence sector hasn’t really attracted any meaningful investments. Foreign direct investment (FDI) limits were eased in mid-2016 to allow foreign firms to own 49% in a venture without government permission, and a higher stake was allowed if the venture had access to state-of-the-art technology. However, most of the partnerships announced are in the nature of technical collaborations; the poor FDI, of course, is also related to poor progress in the government placing orders.