India may spend USD 80 bn in 5 yrs on defence acquisitions:CII

[Marxist]

New Delhi, Jun 17 (PTI) India is estimated to spend about USD 80 billion in the next five years on defence acquisitions, making it one of the most attractive markets for global defence firms, an industry study has said. The CII-Deloitte report on ''Prospects for Global Defence Industry in Indian Defence Market'' said the defence capital expenditure budget was expected to achieve a Compound Annual Growth Rate (CAGR) of 10 per cent from 2011 to 2015.

Total indigenous production between 2011 and 2015 would need to expand from about USD 30 billion to more than USD 70 billion in the span of five years to be able to achieve 70 per cent indigenisation by 2015, the report, released during the Eurosatory-2010 defence exhibition in Paris, said. It noted that the defence industry would need to expand by an average of 30 per cent a year over the next 5 years.

The report, released by Defence Production Secretary R K Singh, provides information to global investor firms to understand the Indian defence requirements and domestic industry capabilities and opportunities in four key domains -- maritime, land, aerospace and electronics. Singh, in his address, said the ''Buy and Make (Indian)'' category in the Defence Procurement Policy of 2009 was an opportunity for foreign players to partner with the Indian Defence industry.

He further said the new category would enhance the formation of joint ventures and technology partnership between the Indian and foreign defence industry. Responding to a query, Singh clarified that the defence Ministry was in favour of continuing with the Foreign Defence Investment (FDI) limit of 26 per cent.

"Over the past decade, the Indian Ministry of Defence has put into motion plans for an unprecedented modernisation program of its defence capabilities. "In this context, India has embarked on a major defence acquisition program, aimed at increasing the size, capability and self-reliance of its armed forces," it said.

The report said the aerospace and defence sector was growing at an unprecedented rate and emerging as a key participant in the Asia Pacific region. It also provided an indicative list of the Indian defence acquisition plans.

In the 2010-11 budget, the government had earmarked USD 32.03 billion (Rs 1,47,344 crore) for defence. "More than USD 42 billion in total defence expenditure is targeted by 2015, of which approximately USD 19.20 billion would be expected to be spent on capital equipment for the armed forces," the report said.

India may spend USD 80 bn in 5 yrs on defence acquisitions:CII - Yahoo! India News

 

[ali_raza]

even 8oo,bln is of no use untill pakistan has the nukes,,and friendship with china.,,,,,,

 

[Neither Right Nor Wrong]

even 8oo,bln is of no use untill pakistan has the nukes,,and friendship with china.,,,,,,

Soviet Union had 16000 Nukes ,they could not prevent it from breaking into 15 smaller nations.

Soviet Union's bid to match Ronald Regan's increased defence spending acted as an catalyst in the whole process.

 

[ali_raza]

the same thing applies to india also,,when they are trying to match up with china,,so what do u think how many nations did india whould split,,,,

 

[Evil Flare]

Soviet Union had 16000 Nukes ,they could not prevent it from breaking into 15 smaller nations.

Soviet Union's bid to match Ronald Regan's increased defence spending acted as an catalyst in the whole process.

Soviet Union was not a country but representing many federation states .. there were independence clause in their constituation so they did implement on it .

 

[Neither Right Nor Wrong]

India defence budget for 2010 is $32 Billion which is 2.6 % of GDP $1234 Billion
Whereas
Chinese Defence budget stands at $100 billion(est.) which is around 2.1% of GDP
hence India will surely try to catch up to china but not by by cutting down the defence budget but by increasing the size of the Indian economy.

 

[Spitfighter]

India defence budget for 2010 is $32 Billion which is 2.6 % of GDP $1234 Billion
Whereas
Chinese Defence budget stands at $100 billion(est.) which is around 2.1% of GDP
hence India will surely try to catch up to china but not by by cutting down the defence budget but by increasing the size of the Indian economy.

I believe we're at 1.367 Billion now, set to cross 1.5 by the end of this year and 2 Trillion by 2015.

We'll easily have the 5th or 6th largest military budget by 2015.

 

[Neither Right Nor Wrong]

Soviet Union was not a country but representing many federation states .. there were independence clause in their constituation so they did implement on it .

Again you are not not catching my drift here... why did the member states not demand independence before 1985 or why did Soviet union survive for 74 years (1917-91) ??

These fault lines only become visible with failure of the state and in this case, the economy.

US without firing a single bullet won the Cold war , all they did was to increase their defence spending and Soviet Union despite having enough nuclear weapons to annihilate entire human race may times over had to match them Rouble for Dollar and hence collapsed internally.