India Modernising its Military

The Indian Government is one of the biggest spenders on Defence in the World with an annual budget of over $200 billion dollars there are plenty of Military manufactures looking to get a share of the Indian market. With the demand of the ever changing World and India’s growing influence on the World Stage it’s no surprise that modernizing India’s Defense capabilities is a major priority.

Last year the Indian Government agreed to purchase 126 French made Dassault Aviation SA Fighters in an order worth over € 10 Billion Dollars. India has also recently agreed to purchase 10 Boeing Military Transport Aircraft. At the Biggest event in South Asia the recent Bangalore Air show there were record numbers of over 600 companies exhibiting their military technology looking to develop Business in India.

With the Indian Defense forces requiring sufficient modernizing then this will only create opportunities for Military weapons manufactures and technology providers.  India’s recently increased its defense budget by over 11% which is partly due to its neighbors and Bric Partner China’s rapid military spending and development. Defense spending is now one of India’s biggest expenditures but with the recent announcement that GDP has contracted slightly to 5.5% for the first 3 quarters of 2012 it’s not expected that India will reduce its military spending anytime soon.