Press Esc to close

India's defence spending to touch $80 bn by 2015

Last updated: 20 July, 2010
New Delhi, July 20, IANS: 16:22 IST

India's defence spending is expected to touch about $80 billion over the next five years, creating opportunities for global aerospace and defence (A&D) companies, says consulting firm Deloitte.

"Defence spending in India and Middle East is expected to rise dramatically. India is likely to spend nearly $80 billion over the next five years (2010-15) on new capital acquisitions," Deloitte said in a report on Indian defence spending.

India's defence procurement for fiscal 2010-11 is budgeted at $32 billion (including $13 billion for acquisitions for new weapon systems, equipment and services).

"The sheer volume of planned expenditure is expected to create new opportunities for global aerospace and defence (A&D) companies, as total spending will grow in absolute terms," said Kumar Kandaswami, Leader, Manufacturing Industry, for Deloitte in India.
"Further, having a burgeoning spending and significant offset requirements, India is also looking for necessary technologies from these companies," added Kandaswami.

According to Deloitte, the US along with Britain, traditionally big spenders on defence-related equipment and technologies, will, however, cut expenditure.

The US Department of Defense could cut its research and development budget by five percent while Britain is expected to effect a steeper decline, said the report.

"Decreasing defence spend by developed countries will require smarter use of the remaining funds in order to develop and deploy the technologies needed to counter more sophisticated adversaries," added General (retd) Charles Wald director, A&D sector, Deloitte LLP in the US.

Go to Top

Photo Gallery
Actress and BJP MP Hema Malini along with her daughters Ahana and Esha cutting a cake to celebrate..

Actress and BJP MP Hema Malini along with her daughters Ahana and Esha cutting a cake to celebrate..

Union Minister for Defence, Nirmala Sitharaman with Chief of Naval Staff, Admiral Sunil Lanba and ..

Union Minister for Defence, Nirmala Sitharaman with Chief of Naval Staff, Admiral Sunil Lanba and ..

Kamaraj Congress (KKC) and Most Backward Communities Federation demonstrators lying on the road in..

Kamaraj Congress (KKC) and Most Backward Communities Federation demonstrators lying on the road in..

Rajesh Talwar arrives at his residence in Noida on Monday after he, along with his wife Nupur, was..

Rajesh Talwar arrives at his residence in Noida on Monday after he, along with his wife Nupur, was..

Social activists sit near earthen lamps, lit in a formation that reads 'No Crackers', to urge ...

Social activists sit near earthen lamps, lit in a formation that reads 'No Crackers', to urge ...

Dentist-couple Nupur and Rajesh Talwar coming out of the Dasna Jail in Ghaziabad on Monday after ...

Dentist-couple Nupur and Rajesh Talwar coming out of the Dasna Jail in Ghaziabad on Monday after ...

Widows celebrating Diwali at Gopinath Temple in Vrindavan near Mathura on Monday...

Widows celebrating Diwali at Gopinath Temple in Vrindavan near Mathura on Monday...

Widows attending the marriage ceremony of a young widow at Gopinath Temple in Vrindavan near ...

Widows attending the marriage ceremony of a young widow at Gopinath Temple in Vrindavan near ...

Bollywood actress Vaani Kapoor presents a creation during a fashion event in New Delhi on Saturday..

Bollywood actress Vaani Kapoor presents a creation during a fashion event in New Delhi on Saturday..

Newly elected Allahabad University Students Union President Avanish Kumar Yadav (center) along..

Newly elected Allahabad University Students Union President Avanish Kumar Yadav (center) along..

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.