India has allocated 2.58 trillion rupees ($38.6 billion) to defense spending for its 2016-17 fiscal year, a marginal increase of 9.7% over last year’s revised estimates of 2.33 trillion rupees.

Russia’s Rostec State Corporation expects to soon sign a contract for the delivery of an additional batch of 48 Mi-17V-5 helicopters to India.

India has successfully tested its first indigenously developed and most powerful cryogenic rocket engine, moving a step closer to launching heavier satellites into orbit.