Mirae Asset BSE India Defence ETF · NSE:DEFENCE
Mirae Asset BSE India Defence ETF — Investor Presentation (February 2026)
29 slides from Mirae Asset BSE India Defence ETF's investor presentation, Feb 2, 2026
Slide 1: Mirae Asset BSE India Defence ETF and ETF FOF
Mirae Asset BSE India Defence ETF (An open ended scheme replicating/tracking BSE India Defence Total Return Index) Mirae Asset BSE India Defence ETF FOF (An open-ended fund of fund scheme investing in units of Mirae Asset BSE India Defence ETF) ETF New Fund Offer details: Fund of Fund New Fund Offer
Slide 2: Global Defence Expenditure
Global Defence Expenditure MIRAE ASSET Mutual Fund
Slide 3: Global Defence Spending: A Decade-Long Structural Upshift
Global Defence Spending: A Decade-Long Structural Upshift Military expenditure by region in US Bn $ Period 1995 2005 2015 2020 2022 2023 2024 World 724.8 1,164.5 1,652.0 1,934.4 2,204.1 2,386.3 2,653.0 Top 15 nations in terms of global military spending (Amount in US Bn $) United States of America 2
Slide 4: Defence Spending Intensity: India Preserves Growth While Scaling Security
Defence Spending Intensity: India Preserves Growth While Scaling Security Military Expenditure as % of % of Govt Per Country US Bn $ GDP Spending Capita US $ United States of America 3.4% 9.1% 2,895 968 China 1.7% 5.1% 221 318 Russia 7.1% 18.9% 1,026 151 Germany 1.9% 3.9% 1,044 86 • India’s defence
Slide 5: India's Defence Capability Gap Highlights a Long Modernization Runway
India’s Defence Capability Gap Highlights a Long Modernization Runway Category US Russia China India Fighter Aircraft 1,790 833 1,212 513 Dedicated Attack Aircraft 889 689 371 130 Aerial Tankers 605 19 10 6 Category US Russia China India Tank Strength 4,640 5,750 6,800 4,201 Self-Propelled Artillery
Slide 6: India's Defence Industrial Sector Vision 2047
India’s Defence Industrial Sector Vision 2047
Slide 7: India's Defence Vision 2047 – Vision Framework
India’s Defence Vision 2047 – Vision Framework Atmanirbhar Agrani Atulya Short-Term (2025 – 2031) Medium -Term (2032 – 2038) Long -Term (2047) Achieve maximum self Become major Become a global leader in niche reliance and indigenisation defence exporter technologies India’s Defence Vision 2047 lays
Slide 8: India's Defence Spending Trajectory Signals a Multi-Decade Modernization Cycle
India’s Defence Spending Trajectory Signals a Multi-Decade Modernization Cycle Defence Budget Defence Export Total R&D Spend 2025-26 (E): INR 6.8 lakh crores 2025-26 (E): INR 30,000 crores 2025-26 (E): 4% 2047 (F): INR 31.7 lakh crores 2047 (F): INR 2.8 lakh crores 2047 (F): 8 – 10% Defence Producti
Slide 9: India's Defence Budget Has Scaled Significantly, with Increasing Focus on Modernization
India’s Defence Budget Has Scaled Significantly, with Increasing Focus on Modernization Total Defence Budget 2025-26 Defence Budget of Rs. 6,81,210 Crore 28,683 2,53,000 2013-2014 Capital Outlay on 1,80,000 Defence Services 1,60,795 Revenue Head Defence Pension Civil organisations under 6,81,210 202
Slide 10: India's Defence Manufacturing Ecosystem Is Broadening and Scaling Up
India’s Defence Manufacturing Ecosystem Is Broadening and Scaling Up Licenses issued to Private Defence Industry Value of Production (in ‘000 crores) 74.1 78.8 81.1 79.1 84.6 94.8 108.7 127.4 154.4 FY 21 528 14.1% 15.3% 15.9% 17.3% 17.4% 19.9% 21.1% 22.5% 26.7% FY 22 575 FY 23 613 85.9% 84.7% 84.1%
Slide 11: India's Indigenisation Drive: Building Long-Term Domestic Manufacturing Depth
India’s Indigenisation Drive: Building Long-Term Domestic Manufacturing Depth Defence Production Export 1762 25,000 2000 1507 • Policy-backed indigenisation through successive Positive Indigenisation 20,000 1414 Lists (PILs) is structurally reducing import dependence across defence 1500 platforms an
Slide 12: India's Indigenisation Push: Translating Policy into Scalable Domestic Manufacturing
India’s Indigenisation Push: Translating Policy into Scalable Domestic Manufacturing ➢ In 2024-25, the Ministry of Defence signed a record 193 contracts valued at ₹2,09,050 crore, marking the highest ever in a single financial year. Of these, 177 contracts, worth ₹1,68,922 crore were assigned to dom
Slide 13: India's Defence Manufacturing landscape
India’s Defence Manufacturing landscape
Slide 14: List of key Defence Public Sector Undertaking (DPSU)
List of key Defence Public Sector Undertaking (DPSU) S.No. DPSU Name Core Segment Listed (Yes/No) 1 Hindustan Aeronautics Limited (HAL) Aerospace & Aircraft Yes 2 Bharat Electronics Limited (BEL) Defence Electronics Yes 3 Bharat Dynamics Limited (BDL) Missiles & Ammunition Yes 4 Bharat Earth Movers
Slide 15: List of key Private Sector companies with defence production
List of key Private Sector companies with defence production Company For For For Part of which Revenue of Name Land Air Navy business segment that segment Defence electronics; embedded Bharat ATAGS artillery; armoured vehicles; Naval utility products; ~₹1,800 crore defence revenue; systems; aero-str
Slide 16: A look at Global Defence Majors: Scale Gap Defines Opportunity
A look at Global Defence Majors: Scale Gap Defines Opportunity Revenue of Largest Aerospace & Defence in US and Europe (US $ Bn) Name of Market Cap 80.7 Company US $ Bn 71.0 66.5 Palantir Technologies Inc 426.4 GE AEROSPACE 345.2 47.7 41.0 38.7 RTX CORP 260.2 22.3 21.3 BOEING 191.5 19.2 16.7 LOCKHEE
Slide 17: Defence Equities Trade at a Structural Premium Amid Geopolitical Realignment
Defence Equities Trade at a Structural Premium Amid Geopolitical Realignment Name 12M Forward P/E of the Index 2016 - 2020 2021 - 2025 Dow Jones U.S. Select Aerospace & Defence Index 22.0x 34.1x S&P 500 Index 19.3x 21.7x STOXX Europe Dow Jones U.S. Valuation S&P Total Market STOXX Total Market Nifty
Slide 18: BSE India Defence Index
BSE India Defence Index MIRAE ASSET Mutual Fund
Slide 19: BSE India Defence Index Construction Overview: Defence Classification Framework
BSE India Defence Index Construction Overview: Defence Classification Framework CATEGORY I: Pure Play Defence Companies CATEGORY II: Defence Enabler Companies BSE 1000 Index • Companies in Basic Defence Industries (Outside Appendix 1 industries) (Eligible Universe) • As defined in Appendix 1 • Direc
Slide 20: Comparison of BSE India Defence Index vis-à-vis Nifty India Defence Index
Comparison of BSE India Defence Index vis-à-vis Nifty India Defence Index Particular BSE India Defence Index Nifty India Defence Index Stock Universe BSE 100 Index Nifty Total Market Index Number of Stocks 34 18 • Nifty India Defence Index focuses exclusively Pure Play Defence Companies 20 18 on pur
Slide 21: Periodic Performance Comparison
Periodic Performance Comparison Periodic Return Periodic Volatility Return to Risk Ratio BSE India Nifty India BSE India Nifty India Nifty500 BSE India Nifty India Nifty500 Nifty500 Period Defence Defence Defence Index Defence Index Index Defence Index Defence Index Index Index Index Index Inception
Slide 22: Portfolio of Defence Index (I/II)
Portfolio of Defence Index (I//II) BSE India Nifty India AMFI Basic Market BSE Company Name DPSU Defence Index Defence Index Industry Cap Type BHARAT ELECTRONICS 15.3% 20.4% Aerospace & Defence Large Cap Pure Play Yes Hindustan Aeronautics 14.9% 19.8% Aerospace & Defence Large Cap Pure Play Yes SOLA
Slide 23: Portfolio of Defence Index (II/II)
Portfolio of Defence Index (II/II) BSE India Nifty India AMFI Basic Market BSE Company Name DPSU Defence Defence Industry Cap Type Apollo Micro Systems 1.2% - Aerospace & Defence Small Cap Pure Play No AXISCADES TECHNOLOGIES 0.9% - Aerospace & Defence Small Cap Pure Play No Paras Defence and Space 0
Slide 24: Why invest in the Mirae Asset BSE India Defence ETF and ETF FOF?
Why invest in the Mirae Asset BSE India Defence ETF and Mirae Asset BSE India Defence ETF FOF ? Multi-decade structural tailwind: India’s defence spending, indigenisation, and export ambitions point to a long-duration manufacturing and capability build-out, not a short cyclical upturn. Policy-anchor
Slide 25: NFO Details and Riskometer
NFO Details and Riskometer Particulars Mirae Asset BSE India Defence ETF NFO Period 02nd February 2026 – 10th February 2026 Type of Scheme An open-ended scheme replicating/tracking BSE India Defence Total Return Index Benchmark BSE India Defence Total Return Index Listing Date Within 5 working days
Slide 26: NFO Details and Riskometer
NFO Details and Riskometer The Product Labelling assigned during the NFO is based on internal assessment of the scheme characteristics or model portfolio and the same may vary post NFO when the actual investments are made.
Slide 27: Index Disclaimer
Index Disclaimer NSE Indices Ltd Disclaimer: : NSE INDICES LIMITED do not guarantee the accuracy and/or the completeness of the any data included therein of the index developed and owned by NSE Indices Limited and NSE INDICES LIMITED shall have not have any responsibility or liability for any errors
Slide 28: Disclaimers
Disclaimers The information contained in this document is compiled from third party and publicly available sources and is included for general information purposes only. There can be no assurance and guarantee on the yields. Views expressed by the Fund Manager cannot be construed to be a decision to
Slide 29: Thank You
THANK YOU 7 MIRAE ASSET Mutual Fund
Mirae Asset BSE India Defence ETF — Investor Presentation (February 2026) on 6ix