Indian Defense Budget Rises, But Not For Aircraft Buys
Rafale
Credit: Dassault Aviation
The Indian government has announced that defense spending will increase by 12.5% for fiscal 2023-24, rising from to INR5,250.7 billion ($63.8 billion) to INR5,935.4 billion ($72.1 billion). But the news for defense suppliers is far less positive. Capital expenditures—funding within the budget used...
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