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Sunday, November 10, 2013

India rises as world's biggest weapons buyer

PAK-FA Sukhoi T-50With nations, including the US and UK, effecting defence budget cuts, India will emerge as the world’s biggest market for weapons over the next two decades. And vying for a share of the pie will be Russian, American, Israeli, French and British firms.

Despite forays by the Americans and Israelis into the Indian defence market with Rs 40,000 crore and Rs 50,000 crore worth of supplies respectively, Russia still bags a major chunk of orders with over Rs 4 lakh crore supplies made since the beginning of this century.

According to senior defence officers, including Indian Air Force (IAF) Director General (Inspection and Safety) Air Marshal P P Reddy, the force could be spending close to Rs 9 lakh crore in the next 15 years.

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