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 ...

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