Press Esc to close
Wednesday 23 August 2017
News updated at 3:20 PM IST

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
A boy running on a wooden bridge through a floating garden of lotus flowers on...

A boy running on a wooden bridge through a floating garden of lotus flowers on...

After their wedding ceremony, groom and bride, Nathan Mauger, Connie Young with...

After their wedding ceremony, groom and bride, Nathan Mauger, Connie Young with...

The moon passes in front of the sun for a total solar eclipse visible...

The moon passes in front of the sun for a total solar eclipse visible...

The sun rises over the coal-fired power station...

The sun rises over the coal-fired power station...

Sikh devotees pray near the Sikh holy book, Guru Granth Sahib, during at the Golden Temple...

Sikh devotees pray near the Sikh holy book, Guru Granth Sahib, during at the Golden Temple...

Chicken traders sell chicken in a market, in...

Chicken traders sell chicken in a market, in...

Bollywood actor Varun Dhawan, Jacqueline Fernandez and Taapsee Pannu at the launch...

Bollywood actor Varun Dhawan, Jacqueline Fernandez and Taapsee Pannu at the launch...

Iceland horses run together in their paddock in Wehrheim...

Iceland horses run together in their paddock in Wehrheim...

Devotees participate in the Peli and Kali Marbat procession as part of Pola festival...

Devotees participate in the Peli and Kali Marbat procession as part of Pola festival...

Bollywood actors Jacqueline Fernandez and Aditya Roy Kapur walk the ramp during the grand finale...

Bollywood actors Jacqueline Fernandez and Aditya Roy Kapur walk the ramp during the grand finale...

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.