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Washington. The International Monetary Fund (IMF) has described India’s increasing indigenous production in the defense sector as an important positive step for the country’s economic growth. According to a recent IMF analysis, when military spending supports local industries, it not only increases production but also boosts the overall economy. The analysis, based on IMF global defense trends, said growth in the defense sector could boost economic activity in the short term. This can see an increase in both consumption and investment, which is a good sign for the economy. This report has come at a time when defense expenditure is continuously increasing amid increasing geopolitical tensions around the world. Nearly half of the countries have increased their defense budget in recent years.