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Thursday, January 30, 2014

Indian defence purchases may be on hold till after Lok Sabha elections

Ka-226TTenders for new artillery systems, light helicopters and conventional submarines will only be floated by the new government. Rosoboronexport is particularly interested in the contract for supplying six submarines, which could be worth $10.7 billion.

With the Indian parliamentary elections looming in the background, fresh defence purchases are likely to be put on hold, even as funds are being diverted to meet the rising operational costs of India’s armed forces.

India’s Ministry of Finance had refused to allocate an additional 80 billion rupees ($1.3 billion) to the armed forces to cover the costs associated with rising fuel prices and paying salaries to servicemen.

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