India's defence expenditure to be commensurate with growth

India to spend around USD 50 billion in next 20 years for acquiring weapons

prasanna

Prasanna Mohanty | February 15, 2010



India's defence expenditure will increase "in proportion" with its economic growth rate, defence  minister A K Antony said here on Monday.

"India's defence expenditure is 2.5 per cent of its GDP and the economy is expected to grow at eight to ten per cent for the next two decades. The expenditure on defence in absolute terms is also bound to increase in equal proportion," Antony said while inaugurating the sixth edition of the biennial Defexpo 2010 here.

India is expected to spend around USD 50 billion in next 20 years for acquiring weapons for its armed forces.

Antony said the increasing expenditure on defence will help the Indian industry to play a more "meaningful role" in the defence sector in the country.

Emphasising the need for achieving high level of indigenisation in defence needs, Antony said, "Our quest for self-reliance will need cooperation between the public and private sector defence industry. We want public and private sector to work as close partners."

On the new policy changes in the defence production procedure 09, the Minister said, "The recent introduction of 'buy and make' Indian category in DPP allows Indian defence industry to forge joint ventures with any foreign company."

Indian private sector will get more opportunities, while foreign partners also will have more scope to forge joint ventures with Indian companies, he added.

Comments

 

Other News

India lost Rs 52,000 crore to cyber fraud in five years: DoT

India has lost more than Rs 52,000 crore to cyber fraud over the last five years, officials have revealed. Out of approximately 60 lakh cyber fraud complaints received, more  than 3,000 cases have been resolved and six cyber fraud setups have been busted.   On the occ

India must not wait for its own Ella

In many Indian cities, children learn to wear masks before they are old enough to understand why. That reality should alarm us far more than it does.   In 2020, nine-year-old Ella Adoo Kissi Debrah became the first person in the world to have air pollution officially recognized a

An ode to the cradle of humankind

The Alphabets of Africa: Poems By Abhay K. Vintage Classics, 280 pages, ₹499.00   Abhay K

Ahmedabad district railway network to be expanded

The Cabinet Committee on Economic Affairs, chaired by prime minister Narendra Modi, on Wednesday approved the Ahmedabad (Sarkhej) – Dholera Semi High-Speed Double Line project of Ministry of Railways with total cost of Rs. 20,667 crore (approx.). It will be Indian Railways 1st semi high-speed project

Indian Ocean more contested than ever: Western Naval Command Chief

The Indian Ocean is becoming increasingly contested and strategically significant as the Indo-Pacific emerges as the defining geopolitical theatre of the 21st century, Vice Admiral Krishna Swaminathan, Flag Officer Commanding-in-Chief of the Western Naval Command, has said.   Spe

Why the judiciary needs much more than four more judges

India has a particular form of governance theatre: the bold declaration that appears to be action but is actually a way of avoiding action. The Union Cabinet on May 5 approved a Bill to increase the sanctioned strength of the Supreme Court from 34 to 38. The decision has been touted as a step toward judici


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter