NEW DELHI — Indian engineering company Larsen & Toubro (L&T) Ltd. and South Korean defense firm Samsung Techwin Co. are joining forces in a bid to build self-propelled artillery guns for the Indian army. According to an announcement made at the DefExpo 2012 here, the two companies have formed a joint venture to compete for the Tracked Self-Propelled Artillery Program.
NEW DELHI — India’s defense minister says the country’s defense expenditures will continue to increase as the modernization of its armed forces remains a top priority. “Our armed forces need to have access to [the] latest defense technologies, equipped with the state-of-the-art platforms, equipment and systems. With the projected growth of the Indian economy expected at a trajectory of 8-10% for the next two decades, expenditures on defense in absolute terms is bound to increase,” Defense Minister A.K. Antony said in inaugurating DefExpo 2012 here.
