2023-24 India allocates $72.6B defense budget, aims $5B export by 2025, and plans $130B fleet modernization.
India strengthens global defense stance with $72.6B budget for 2023-24, supporting world's 2nd largest armed force of 1.45M active personnel. India sets $5B export target by 2025, with $1.9B exports for 2023, up tenfold since 2016. Government plans $130B fleet modernization over 5-7 years, focusing on advanced technologies and systems. India releases 5th Positive Indigenisation list for local production and liberalizes FDI policies to attract global investors.
June 02, 2024
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