NEW DELHI — India’s ambitious modernization of its armed forces is likely to be slowed by the federal government’s decision to slash funding for defense acquisition. A defense ministry official indicates that the government has cut defense spending by about 5% from the allocated 1.93 trillion rupees ($38.6 billion), mainly due to the ongoing economic downturn. “Several key acquisition plans, including the procurement of 126 combat aircraft for the Indian air force, are expected to be ...
THIS CONTENT REQUIRES SUBSCRIPTION ACCESS
You must have an Aviation Week Intelligence Network (AWIN) account or subscribe to this Market Briefing to access "Indian Budget Cuts Slow Defense Acquisitions".
Current Aviation Week Intelligence Network (AWIN) enterprise and individual members: please go to http://awin.aviationweek.com for access.
Not currently a subscriber? Click on the "Learn More" button below to view subscription offers.