Sahil Luthra and the Long Bet on Making India’s Own Bullets

Sahil Luthra launched VTDS ammunition manufacturing in India, aiming to boost defence self-reliance with indigenous production and expansion plans.

By DNA

May 08, 2026

New Delhi, - There is a simple question that we don't ask ourselves. If a soldier is at the border and loads a round into his rifle, where did that bullet come from? Who made it? If the truthful answer is that it was imported, then a much bigger question arises: why does a country as big and resourceful as India need to depend on others for something so vital to its security? 

But Sahil Luthra didn't want to ignore it.

The Delhi-based entrepreneur is trying to create something at the intersection of ambition and national need at the age of 34. A little more than a year ago, he started a defence manufacturing unit in Jhansi, Uttar Pradesh. If things go according to plan, the facility will start producing ammunition by June 2026. It's a hard sell schedule and not all are buying it. But, again, a big change doesn't start with agreement. 

A Childhood Shaped by Enterprise and Exposure 

Luthra grew up in New Delhi in a household where ambition was not abstract – it was part of daily life. His father, the late Shri Karan Luthra, was a businessman, and that environment instilled an early understanding that success is rarely inherited; it is built, often from the ground up. 

At the same time, Delhi itself provided a different kind of influence. In certain parts of the city, it’s not unusual to catch glimpses of India’s elite security forces – the discipline of NSG commandos, the precision of SPG convoys moving through the capital. For many, it fades into the background. For some, it leaves a mark. 

Luthra was one of those who noticed. He didn’t join the armed forces, but the sense of purpose and structure stayed with him. Years later, it would shape the direction he chose to take. 

Learning the Long Game in Real Estate 

Before stepping into defence manufacturing, Luthra spent years in Land banking through SL Investors and Developers LLP. On paper, it might seem like an unrelated starting point. But land banking in India is anything but straightforward. 

It requires patience, calculated risk, and a willingness to commit capital without immediate returns. Investors often hold land for years, anticipating infrastructure development, policy changes, or urban expansion. It’s a business built on foresight as much as execution. 

In many ways, it prepares you for sectors like defence manufacturing, where timelines are long, processes are complex, and rewards are neither quick nor guaranteed. The ability to think in decades rather than months is not common, but it is essential. +

The Pivot That Changed Direction 

In his early thirties, Luthra made a decision that would redefine his career. Instead of moving into safer or more predictable industries, he chose to enter defence manufacturing — one of the most regulated, capital-intensive, and challenging sectors in India. 

In 2024, he co-founded Vijayan Trishul Defence Solutions (VTDS) with his wife, Prikansha Luthra. The company’s focus is not on flashy defence systems or high-visibility technology. It is on something far more basic, small arms ammunition. 

These are the rounds that soldiers use daily. They are essential, constant, and often overlooked. And despite their importance, India has historically relied on imports for a significant portion of its ammunition needs. 

The company’s name carries personal meaning as well. It stands as a tribute to his late father, reflecting both continuity and intent, building something new while honouring what came before. 

A Commitment Measured in Decades 

If there was any doubt about the seriousness of this venture, it was addressed with a single move. VTDS secured a 20-hectare land parcel in Jhansi as part of the Uttar Pradesh Defence Industrial Corridor - on a 90-year lease. 

That number stands out. Ninety years is not a short-term experiment or a trial run. It is a commitment that extends beyond a single business cycle, beyond even a single generation. 

The project is estimated at ₹300-400 crore and is entirely self-funded by the family. There are no external investors, no venture capital backing. This kind of financial structure changes the equation. When the capital is your own, the stakes are deeply personal. 

What the Factory Aims to Deliver 

VTDS has outlined a phased plan for production. The first phase will focus on manufacturing small-calibre ammunition, specifically 5.56 mm, 7.62 mm, and 9 mm rounds. These are widely used across military and paramilitary forces. 

One of the company’s key strategic decisions is to produce both NATO-standard and Russian-standard ammunition. This matters in the Indian context, where the armed forces operate a mix of legacy Soviet systems and newer Western platforms. 

The goal is to begin production by June 2026. Discussions with potential buyers, including Indian defence forces and international clients, are already underway. Whether these translate into firm contracts will be a crucial milestone. 

Building with Experience, Not Just Ambition 

Recognizing the complexity of the sector, Luthra has built a team that combines entrepreneurial energy with institutional experience. 

The advisory board includes senior figures such as Lt Gen Kamaljit Singh, former Gujarat Chief Secretary G R Aloria, and Col PVS Nageswara Rao (Retd.). Their experience offers insight into procurement systems, compliance requirements, and operational realities. 

In defence manufacturing, knowing how to build a product is only part of the challenge. Understanding how to navigate the system is equally important. 

Expanding the Vision to Punjab 

VTDS is already looking beyond Jhansi. The company has announced plans to establish a second manufacturing unit in Amritsar, Punjab, and has received the necessary approvals. 

This expansion signals confidence, but it also reflects a broader vision. Industrial investment in Punjab carries economic significance, particularly in regions where employment opportunities need strengthening. 

The new facility is expected to create jobs and contribute to local economic activity, while also strengthening the company’s manufacturing footprint. 

Recognition Along the Way 

In March 2025, Luthra was recognized at the ET Now Business Conclave in New Delhi, where he received the Excellence in Defence Entrepreneurship Award. While awards can sometimes be symbolic, early recognition from a credible platform indicates that the industry is paying attention. 

He has also been acknowledged by the Uttar Pradesh government as one of the youngest defence entrepreneurs in India. Whether these recognitions become milestones or footnotes will depend on execution. 

A Partnership That Shapes the Company 

Prikansha Luthra’s role in VTDS goes beyond co-founder status. As a director, she is actively involved in decision-making and operations. 

Her presence is significant in a sector where leadership roles are still largely male-dominated. The company has also expressed intent to include women in its workforce, particularly in operational roles – a small but meaningful step toward inclusivity. 

The Reality Check 

Despite the momentum, the road ahead is not straightforward. 

India’s defence manufacturing ecosystem has seen ambitious plans before. Some have succeeded, but many have struggled with delays, regulatory hurdles, and long procurement cycles. Moving from land acquisition to consistent production and supply is a complex journey. 

VTDS has the foundational elements – land, funding, approvals, and a defined roadmap. What it does not yet have is a proven track record. That can only be built over time, through consistent delivery. 

Why This Effort Matters 

Even with the uncertainties, efforts like this are important. 

India’s push toward self-reliance in defence depends not just on policy but on participation. It requires entrepreneurs willing to invest, take risks, and navigate a challenging landscape. 

Not every venture will succeed. But if even a portion of them do, the impact could be significant – reducing dependence on imports and strengthening domestic capabilities. 

Sahil Luthra’s journey is still at an early stage. At 34, he has committed both capital and conviction to a long-term vision. The outcome remains uncertain, as it does with any ambitious undertaking. 

But the attempt itself carries weight. 

Because in the end, industries don’t evolve through intention alone. They evolve when someone decides to build – even when the outcome is not guaranteed.