Defence Sectorin India
The Defence industry of India is a strategically important sector. The total budget sanctioned for the Indian military for the financial year 2019 was $60.9 billion whereas for the FY 2020-21, it is US$65.86 Billion amounting to an increase of just under 7 percent. India has been pushing for greater indigenisation of military hardware as India imports around 70 percent (by value) of its high-tech defence hardware such as aircraft, ships, submarines, missiles etc. mainly from Russia, Japan, Israel and the United States.
- India plans to spend $130 billion on military modernization in the next 5 years, as achieving self- reliance ....
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