Indian Firms Tool Up For Defense Orders On Modi’s ‘buy India’ Pledge
Even before his landslide election victory in May, Prime Minister Narendra Modi promised to assert India’s military prowess and meet the security challenge posed by a rising China and long-running tensions with Pakistan. Within weeks of becoming prime minister, he boosted defense spending by 12 percent to around $37 billion for the current fiscal year and approved plans to allow more foreign investment into local industry to jump-start production. Launching a new, Indian-built naval destroyer last week, Modi said: “My government has taken important steps in improving indigenous defense technology … We can guarantee peace if our military is modernized.”
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