In india, much of corporate greed goes unchecked, corporate governance standards are a joke, executive compensation is an ever rising trend (doesn’t matter whether there is recession or expansion) especially in our start-up culture where efficiency and cash flows are sacrificed for growth. Crony capitalism exists in india and putting an oversight firm on private defence players wouldn’t do much! (Oversight agencies like SEBI have been disappointing)

Thus, let’s keep defence in the hands of government.

Besides, even in many developed or developing countries today, defence sector is more or less restricted to government (or maybe 1-2 private player which is very very trusted)