The September edition of Business Times – an economic, commercial and financial journal focused on trade between the U.S. and India – has published a snapshot of the Indian defense market authored by Sebastian Sobolev, Managing Analyst of Avascent Analytics.
“…foreign suppliers will have to be increasingly sensitive to India’s evolving priorities, manifested as a move away from the acquisition of defense equipment and instead emphasizing the development of defense industrial capability.”
India is currently modernizing its armed forces, and subsequently enjoys a moderately increasing defense budget. However, its focus on domestic industrial participation, and slowing economic performance indicate that foreign defense manufacturers will have to fiercely compete as India continues to acquire platforms and technologies from several sources, including France, Russia, and indigenous manufactures.
The full September edition may be viewed here.