This report is an outcome of a study conducted by the Vivekananda International Foundation to find out the causes of shortfall in performance and work out recommendations for further reforms in the defence sector. This study was conducted in four components, including four thematic roundtables chaired by prominent personalities like the former Defence Secretary, former Secretary Defence (R&D), former Secretary (DST) and the Vice Chancellor of DIAT; several subject-specific seminars; study of Defence Technology Ecosystems (DTEs) of important countries and review of previous Indian studies.