India Plans Huge Investments In Defense Modernization $945 Billion

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[left]The Indian government has plans to make big investments in modernizing different sectors of the country’s armed forces.[/left]

[/left][left][color=#333333][font=verdana, arial, helvetica, sans-serif][size=3]“Now it is time to modernize, upgrade all the defense PSUs [public sector units] and ordinance factory boards,” says M.M. Pallam Raju, minister of state for defense.[/size][/font][/color][/left]

[/left][left][color=#333333][font=verdana, arial, helvetica, sans-serif][size=3]Raju says the government is investing a “lot of money and effort” to promote these facilities, which the country has developed over a period of time with “great tenacity.” He says the amount of investment is going up and could be more than [/size][/font][/color][color=#ff0000][font=verdana, arial, helvetica, sans-serif][size=3][b]$945 billion [50 trillion rupees][/b][/size][/font][/color][b] [/b][color=#ff0000][font=verdana, arial, helvetica, sans-serif][size=3][b] [/b][/size][/font][/color][color=#333333][font=verdana, arial, helvetica, sans-serif][size=3]as per security needs over next five years. The defense ministry is working toward parallel encouragement of the private sector to attain the goal, he says[/size][/font][/color][/left]

[/left][left][color=#333333][font=verdana, arial, helvetica, sans-serif][size=3]“Unfortunately, as far as the army is concerned, we have been suffering because of cancellation of tenders due to black-listing of companies,” Raju says. “There is a quest to modernize our artillery, so we hope that in the next couple of years we will make significant progress.”[/size][/font][/color][/left]

[/left][left][color=#333333][font=verdana, arial, helvetica, sans-serif][size=3]The government is also taking the issue of self-reliance seriously in the context of manufacturing artillery.[/size][/font][/color][/left]

[/left][left][color=#333333][font=verdana, arial, helvetica, sans-serif][size=3]Forecasts for the Indian defense market are numerous and varied, but most project massive growth, especially compared to western markets. According to one forecast for 2011-2016 by iCD Research, the compound annual growth rate (CAGR) for all Indian defense expenditures is expected to rise to 13.08%. And while the country is eager to build its domestic industry, India remains one the world’s largest importers of military hardware, relying on imports to fulfill 70% of its defense requirements, according to the November report.[/size][/font][/color][/left]

[/left][left][color=#333333][font=verdana, arial, helvetica, sans-serif][size=3][url="http://www.aviationweek.com/aw/generic/story_channel.jsp?channel=defense&id=news/awx/2011/12/28/awx_12_28_2011_p0-409840.xml&headline=India%20Plans%20Huge%20Investments%20In%20Defense%20Modernization"]http://www.aviationw...20Modernization[/url][/size][/font][/color][/left]

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[Spartan]

945 Billion aa....correct ye na...

[Ba1234]

[quote name='ChittiNaidu' timestamp='1325240005' post='1301215683']
945 Billion aa....correct ye na...
[/quote]


Milion ayyuntundi le?

[Deletedid1]

[quote name='Ba1234' timestamp='1325240099' post='1301215702']


Milion ayyuntundi le?
[/quote]
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