This study examined the possibilities of enhancing India-Mongolia defence cooperation for mutual benefit. The critical areas of focus included the national security perspective of Mongolia, its threat perceptions and sensitivities, the countries’ military capabilities and the role played by their defence forces. The study also undertook the Russian and Chinese influence in Mongolia and the possible reaction of China to India’s defence engagement with Mongolia. Finally, it looked at existing defence engagement with Mongolia and identified convergences, divergences, challenges and opportunities.