India’s defence market is slated to grow on a steep trajectory over the next three years.
Her armed forces’ capital-equipment spending is expected to reach between $18 Billion and $20 Billion.
This will mark it as the second-highest growth rate among the top 15 countries ranked by defense spending.
The most recent Indian budgetary figures (revised estimates) put India’s defence expenditure for 2019-2020 at $59.7 Billion.
Any discerning observer of the global hardware scene will see enough markers to indicate that India will maintain her position as a prime net importer of defense hardware. Her import intensity will continue to be one of the highest among countries that procure at similar levels.