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Investor Presentaiton

Domestic Defense Market Opportunities Opportunity Efforts to Modernize Indian Defense networks and systems and provide a boost to local manufacturers Improved Market Expansion Opportunities ■ Growth Driver The Indian Defense capital expenditure was USD 19.0 Bn in FY 23 and is expected to reach USD 40.2 Bn by FY 30 ■ Record 75 per cent of the defence capital procurement budget has been earmarked for domestic industry in Financial Year (FY) 2023-24, up from 68 per cent in 2022-23. Import reduction from 65% by FY28 to 30% by FY32 on the back of initiatives like Aatmanirbhar Bharat, Make in India. ■ Government listed a total of 310 items to be produced indigenously The Government of India has liberalized FDI under an automatic route up to 74 per cent and up to 100 per cent through the Government route Cumulative TAM (FY23-30) -USD 2.8 Bn Electronic fuses -USD 30.6 BD Electro-Optics Bn -USD 1.00 Bn Software defined radio (SDR) HFCL Limited | Investor Presentation Jan 2024 21
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