Published on Dec 25, 2012
www.youtube.com/SupperWorldNews India plans to spend about 100 billion dollars over the next ten years to upgrade its largely Soviet-era military equipment.
Russia's President, Vladimir Putin, reiterated the fact in New Delhi on Monday. He was on a day-long visit to Indian capital. Over the next ten years, India will spend over four billion dollar on new arms purchases from Russia.
The two countries have also agreed to jointly design a futuristic stealth fighter together. They will equally share its cost of eleven billion dollars.
India is also expecting the delivery of a refurbished Russian aircraft career by the end of 2013. 2.33 billion dollars have already been paid for it.
These deals re-enforces Russia's position as the biggest arms supplier to India. Even though India has lately diversified its weapon procurement, 60% of them still come from Russia.
In 2008, India purchased six C130J cargo aircraft from the United States. In 2010, the United Kingdom sold India 57 Hawk jet trainers for $1 billion. In 2010, Italy also sold India 12 AW101 helicopters.
The Indian defence industry has been mainly focused on manufacturing limited equipment under license.
The geopolitical situation will keep India among the top arms buyers in the world. It continues to have tense relations with its neighbours Pakistan and China. India borders them for thousands of kilometres, some of which is bitterly disputed.
Analysts say that as India has failed to set up an impressive defense manufacturing industry it is left with no option and will always remain dependent on international arms suppliers to meet its requirements.
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Monday, January 7th 2013 at 12:53PM
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