India’s satellite-manufacturing firms rally as defence exports policy near finalisation

Shares of Indian satellite-manufacturing firms such as Ananth Technologies and Godrej Aerospace jumped 5–8% on reports that the government is set to unveil its long-awaited export policy for satellites and space-assets next quarter. The draft policy includes incentives for foreign-integrated manufacturing, export-credits and strategic partnerships. Analysts believe the policy could open a US$10-12 billion export opportunity over five years. The rally is seen as early positioning and may spur broader aerospace/defence-supplier interest in India’s export-theme stocks.