Registration was successful!
Please follow the link from the email sent to

India to Ink Investment Deals Worth $400bln in Aerospace and Defense Sector

© Sputnik / Vitaliy Ankov / Go to the photo bankIndian military delegation visits 5th combined arms army to prepare joint Russian-Indian "Indra-2016" ground muscle exercises
Indian military delegation visits 5th combined arms army to prepare joint Russian-Indian Indra-2016 ground muscle exercises - Sputnik International
Subscribe
The Indian government has indicated that the country will spend more money on defense purchases.

New Delhi (Sputnik) — The Aeronautical Society of India has predicted a massive investment in the country’s aerospace and defense sector in the next 10 years.

“Overall investment in Aerospace and Defense in the next 10 years is expected to be more than 400 billion US Dollars,” said Dr R K Tyagi, former Chairman of HAL and President elect of the Aeronautical Society of India.

India's supersonic Brahmos cruise missiles - Sputnik International
India to Showcase BrahMos Missile and Other Defense Products in Parliament
According to the Aeronautical Society of India, India has signed deal worth $17.14 billion in last two years. In the meantime, 110 contracts have been signed. India’s Ministry of Defense has granted 201 projects worth $36 billion since mid-2014.

The Indian government recently hinted that the country would like to spend more on defense in the wake of growing tensions in the region and the threat of Islamic State. If India increases its defense expenditure in upcoming budget, it would mark a reverse trend as allocation to defense has been decreased from 2.62 percent of annual national income in 2011 to 2.26% in 2016. In fact, the Indian government had made a request to all the defense manufacturers to raise production capacity.

Apart from the defense sector, India’s civilian aerospace sector would also witness a sharp rise in demand for aircraft. India is expected to add more than 1,600 aircraft in the next 10 years with an approximate investment of USD 200 billion.

“For technological superiority and strengthening the manufacturing sector in India, it would be necessary that India develop its own civil aircraft.  Preliminary studies have already been completed and it is estimated that such an aircraft could be developed in 5 – 7 years at a cost of roughly about 1 billion US Dollars i.e. much less than 1% of acquisition cost which we will be incurring in the Aerospace & Defense sector in next 10 years,” said Dr. R.K. Tyagi. It is said that India will add up to one aircraft per week in next ten years.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала