Press Esc to close
Saturday 31 January 2015
News updated at 3:28 PM IST
Weather
Max: 28°C
Min : 17°C
In Bengaluru
Sunny day

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

Last updated: 20 July, 2010
New Delhi, July 20, IANS:

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
A visitor takes a 'selfie' in front of an exhibit titled 'Circle Uncircled' by artist Rahul Kumar...

A visitor takes a 'selfie' in front of an exhibit titled 'Circle Uncircled' by artist Rahul Kumar...

A tightrope walker is silhouetted against the setting sun as she holds a balancing pole...

A tightrope walker is silhouetted against the setting sun as she holds a balancing pole...

Prime Minister Narendra Modi paying homage to Mahatma Gandhi on the occasion of his death...

Prime Minister Narendra Modi paying homage to Mahatma Gandhi on the occasion of his death...

President Pranab Mukherjee paying tributes to father of the nation, Mahatma Gandhi...

President Pranab Mukherjee paying tributes to father of the nation, Mahatma Gandhi...

Lawyers stop a train at Moradabad Railway Station on Friday during a protest demanding...

Lawyers stop a train at Moradabad Railway Station on Friday during a protest demanding...

An elderly woman and a boy stand outside their house with walls damaged in alleged firing from...

An elderly woman and a boy stand outside their house with walls damaged in alleged firing from...

New recruits of the Indian Border Security Force (BSF) take oath during a graduation ceremony...

New recruits of the Indian Border Security Force (BSF) take oath during a graduation ceremony...

A groom leads his horse in the equine pool after working out on the track, during early morning...

A groom leads his horse in the equine pool after working out on the track, during early morning...

A handler bathes a horse after a training session ahead of the Indian Derby in Mumbai...

A handler bathes a horse after a training session ahead of the Indian Derby in Mumbai...

Ladakhi women offering prayers during the inauguration of traditional Buddhist prayer...

Ladakhi women offering prayers during the inauguration of traditional Buddhist prayer...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523