1 billion $ for France is not the same as 1 bill $ for India.Look how many fighter jets/tanks/etc India has opposed to France even tough France has a bigger budget.Or better yet Sweden has a defence budget the size of Pakistan's but look at the disparity of their armed forces.
True to some extent.
Comparing France and India:
1. A substantial part of the French defence budget goes into R&D -who knows how many billions they spend every year to develop and improve their weapons.
2. French equipment is better than what India has in most but not all areas.As an example the Leclerc is a much better tank than the T-72 or even T-90 that mainly equips the Indian army.
3. Personnel cost much less in India than in France.
I still say that if France spent the same proportion of GDP as it did in 1967, then it could operate 4-500 Rafales. Remember the more you order the cheaper it gets and that includes maintenance and weapons