Key changes in India's defence industrial and arms and military equipment (AME) procurement policies of the past decade were reviewed, implemented as part of “Make in India” and “Atmanirbhar Bharat” courses. They included localization of production of weapons and their components, more active involvement of foreign and Indian private companies in production programs, adjustment of procurement and offset policy rules, encouraging defense exports and a number of other elements. It was studied how these changes in regulation of defense production and procurement affected the specific projects of India's main combat systems, including Tejas fighter, Vikrant aircraft carrier, Akash anti-aircraft missile systems and several others. Conclusions were drawn on positive and negative aspects of implementation of the “Make in India” course at the current stage of the country's military-industrial complex development.