Indian economy is crashing below 4% growth annually. Though the defiant Indian government would not admit it. Watch for Indian government fudge number.
As for the planes, no money, no planes.
India rejects IMF projections on economic growth
Its good to be positive. But its even more important to be realistic. India is likely not going to be able to afford what it want.
You are right.With de facto technology denial regimes in place our capital expenditure and R&D budget will shoot up massively.We will have 100's of indigenous programs along with buying weapons upfront without technology transfer.Most experts say that our economy will crash but with the advent of private sector I foresee a huge boom in the Indian economy itself.The creation of a MIC itself will boost our GDP by 2.5% if done decisively our economy from next FY onwards will start growing at 7% and followed by 9% in the successive year.This will have a multiplier effect since huge investments will start taking place.Only caveat is 'Decisive Government'.
That's my worthless 2 paise opinion.Anybody is free to take it or leave it.