Defence startups putting India on the map; IndiaMART’s MSME playbook
India’s defence startups are delivering world-class systems that are redefining self-reliance. IndiaMART InterMESH COO details how MSMEs can harness AI and GenAI technologies. Three lives show how the promise of freedom collapses under daily violence, prejudice, and state failure.
Hello,
Happy Independence Day!
For most of us, independence carries a significance deeper than just historical relevance. For some, independence means the freedom to break out of social constraints, and for others, it’s the liberty to do business without many roadblocks—and there’s some good news on that front.
Rating agency S&P Global raised India’s long-term unsolicited sovereign credit ratings to “BBB” from “BBB-”, citing economic resilience and sustained fiscal consolidation. It noted that India's continued policy stability and high infrastructure investment are set to boost the country's long-term growth.
Elsewhere, the Ministry of Defence is overhauling its procurement process to make it easier for startups to supply equipment and technology to the armed forces. The revised Defence Acquisition Procedure will include a “more ambitious” framework than existing schemes.
But well, August 15 is, after all, a holiday, and holidaymakers have grand plans for the long weekend.
According to reports, hotels are near full occupancy from August 15-17, with many hotels in popular destinations like Maharashtra, Goa, Ooty, and Coorg sold out. Luxury hotels in Jim Corbett, Chail, and Shimla are also near full occupancy.
Indian theatres are also gearing up for one of the year’s biggest box-office weekends, with War 2 and Rajinikanth’s Coolie expected to deliver a combined opening of Rs 120-130 crore.
In today’s newsletter, we will talk about
- Defence startups putting India on the map
- IndiaMART’s MSME playbook
- Fight for freedom in independent India
Here’s your trivia for today: How many countries mark August 15 as their independence/national day?
Independence Day
Defence startups putting India on the map
Once heavily reliant on foreign OEMs for critical systems such as avionics, propulsion modules, radar and targeting equipment, India is now rapidly shifting towards self-reliance in high-value defence manufacturing.
This transformation is powered by the government’s Positive Indigenisation Lists, which now span over 4,500+ components previously imported from abroad. These lists have opened the door for startups to replace foreign sub-systems with locally designed, IP-owned solutions that meet stringent defence-grade standards.
Homegrown defence systems:
- Noida-based Raphe mPhibr, founded in 2016 by Vikash Mishra, Vivek Mishra, and Nitin Katiyar, specialises in fully indigenous unmanned aerial vehicles and aerospace components for military and commercial use.
- Bangalore-based SSS Defence designs, develops, and manufactures small arms, ammunition, and military optics, including the Viper and Saber sniper rifles, with the Saber securing a $50 million export order in 2024.
- Skyroot Aerospace, founded in 2018 by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka, is a Hyderabad-based private aerospace manufacturer and commercial launch service provider. The startup develops the modular and customisable Vikram series of cost-effective, rapid, and reusable rockets.
Funding Alert
Startup: Darwinbox
Amount: $40M
Round: Undisclosed
Startup: TMRW
Amount: Rs 437 Cr
Round: Undisclosed
Startup: Shivalik Small Finance Bank
Amount: Rs 100 Cr
Round: Equity
Interview
IndiaMART’s MSME playbook
In today’s fast-changing world of technology, and with the advent of artificial intelligence as well as generative AI, it has become more important than ever for MSMEs to keep pace with these changes.
IndiaMART InterMESH Limited, one of the leading B2B marketplaces in the country, has been closely connected with the MSME ecosystem, supporting their digitisation journey and showcasing new ways of doing business. In an email interview with SMB Story, COO Dinesh Gulati delves into the company’s approach to becoming data-intelligent.
Digital-first approach:
- The Indian MSME sector boasts over 6.3 crore enterprises, and close to 67% of them are now digitally ready, Gulati says. This transformation is being driven by widespread smartphone penetration, improved internet connectivity, digital payments, and the huge tailwind created during the pandemic.
- He adds that IndiaMART is accelerating digital adoption for MSMEs with user-friendly tools that enable businesses to set up digital storefronts, aggregate leads, connect with buyers and efficiently manage leads through in-built lead managers.
- IndiaMART plans to further expand into areas like conversational commerce, credit facilitation, and logistics partnerships to offer a seamless, end-to-end experience for sellers. Additionally, the company is leveraging GenAI and agentic AI to fine-tune its offerings.
Independence Day
Fight for freedom in independent India
Even as we come up on India’s 79th Independence Day, the idea of freedom doesn’t change much from day to day for most people—August 15 is simply another holiday to cash in on sales, rest and socialise.
This August 15, we tell stories of survival, justice, and the fight for basic rights, where freedom isn’t just a slogan and independence is hard-fought.
As India marks 78 years of independence, three lives show how the promise of freedom still collapses under daily violence, prejudice, and state failure. For them, “independence” rings hollow and is lost in their fight to stay alive.
News & updates
- No shame: In the first half of this year, Tesla sales plunged by half or more in Germany, Sweden, Denmark and the Netherlands. But they grew by 24% year-on-year in Norway, making the country of 5.5 million the company's second-largest European market.
- Contract electronics: The boom in AI has helped Apple supplier Foxconn earn more from manufacturing servers than smartphones for the first time, a milestone in its efforts to reduce its dependency on the low-margin business of assembling iPhones.
- Crypto rally: Bitcoin topped the $124,000 level for the first time Wednesday, extending a months-long rally. The world’s largest cryptocurrency has surged about 33% year to date, and nearly 120% over the past 12 months. However, the currency later cooled off.
How many countries mark August 15 as their independence/national day?
Answer: Six. India, North Korea, South Korea, Bahrain, Congo, and Liechtenstein.
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