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INDIA EYES TO CUT DEFENCE BUDGET BY 50% WITHIN A DECADE

INDIAPOSITIVE

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India eyes to cut defence budget by 50% within a decade: Minister of State for Defence Subhash Bhamre
By PTI | Updated: Jan 05, 2017, 06.38 PM IST
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READ MORE ON » Subhash R Bhamre | Offset | MoS | Defence | Budget | Army

India has the 3rd largest armed forces in the world and spends approximately 40 per cent of its total defence budget on capital acquisitions, and about 60 per cent of defence requirements are met through imports.
HYDERABAD: Nearly $14 billion worth of defence offset obligations would be discharged in India by foreign original equipment manufacturers (OEMs) by 2028, MoS for Defence Subhash R Bhamre said today, and indicated that the government proposes to reduce the defence budget by 50 per cent within a decade.

He said the defence industry has the potential to become a huge foreign exchange earner and also lead the country to its professed goal of self-reliance.

"Nearly $14 billion worth of defence offset obligations will be discharged by the foreign OEMs by 2028," he said while delivering the inaugural address at seminar - Leveraging defence expenditure as a tool for nation building - organised by College of Defence Management here.

He noted that India has the 3rd largest armed forces in the world and spends approximately 40 per cent of its total defence budget on capital acquisitions, and about 60 per cent of defence requirements are met through imports.

"The present government has emphasised on indigenous manufacturing to reduce the defence budget by 50 per cent within a decade," the Union minister said.

"There is an urgent need for innovation in the defence manufacturing sector with increased focus on R&D and to prepare a pool of human resource expertise which will help in making equipment and technologies cheaper," he said.

Thanks to the Centre's 'Make in India' campaign, the defence sector has moved from the periphery to the core of Indian manufacturing, he pointed out.

"The sector not only has the potential to augment manufacturing but also add nearly one million direct and indirect jobs," Bhamre said.

He also said the government is taking steps to bring in a framework that encourages collaboration between public and private sector companies for defence export based on public private partnership model.

"The DPSUs (Defence Public Sector Undertakings) and private sector should also put in place a system to share the capability and capacity to support overseas sales, servicing and maintenance throughout the life of the product," he said.

Pointing out that the human resource capacity in the private sector has already demonstrated its worth in fields of automobile, IT and service sectors at global platform, he said the government is trying to replicate the same model by inducing private sector and foreign OEMs to invest in defence manufacturing.


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Hassan Guy

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India eyes to cut defence budget by 50% within a decade: Minister of State for Defence Subhash Bhamre
By PTI | Updated: Jan 05, 2017, 06.38 PM IST
Post a Comment
READ MORE ON » Subhash R Bhamre | Offset | MoS | Defence | Budget | Army

India has the 3rd largest armed forces in the world and spends approximately 40 per cent of its total defence budget on capital acquisitions, and about 60 per cent of defence requirements are met through imports.
HYDERABAD: Nearly $14 billion worth of defence offset obligations would be discharged in India by foreign original equipment manufacturers (OEMs) by 2028, MoS for Defence Subhash R Bhamre said today, and indicated that the government proposes to reduce the defence budget by 50 per cent within a decade.

He said the defence industry has the potential to become a huge foreign exchange earner and also lead the country to its professed goal of self-reliance.

"Nearly $14 billion worth of defence offset obligations will be discharged by the foreign OEMs by 2028," he said while delivering the inaugural address at seminar - Leveraging defence expenditure as a tool for nation building - organised by College of Defence Management here.

He noted that India has the 3rd largest armed forces in the world and spends approximately 40 per cent of its total defence budget on capital acquisitions, and about 60 per cent of defence requirements are met through imports.

"The present government has emphasised on indigenous manufacturing to reduce the defence budget by 50 per cent within a decade," the Union minister said.

"There is an urgent need for innovation in the defence manufacturing sector with increased focus on R&D and to prepare a pool of human resource expertise which will help in making equipment and technologies cheaper," he said.

Thanks to the Centre's 'Make in India' campaign, the defence sector has moved from the periphery to the core of Indian manufacturing, he pointed out.

"The sector not only has the potential to augment manufacturing but also add nearly one million direct and indirect jobs," Bhamre said.

He also said the government is taking steps to bring in a framework that encourages collaboration between public and private sector companies for defence export based on public private partnership model.

"The DPSUs (Defence Public Sector Undertakings) and private sector should also put in place a system to share the capability and capacity to support overseas sales, servicing and maintenance throughout the life of the product," he said.

Pointing out that the human resource capacity in the private sector has already demonstrated its worth in fields of automobile, IT and service sectors at global platform, he said the government is trying to replicate the same model by inducing private sector and foreign OEMs to invest in defence manufacturing.


http://economictimes.indiatimes.com...com&utm_medium=referral&utm_campaign=ETTWMain
Yeah, probably not going to happen.
 

SR-91

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India eyes to cut defence budget by 50% within a decade: Minister of State for Defence Subhash Bhamre
By PTI | Updated: Jan 05, 2017, 06.38 PM IST
Post a Comment
READ MORE ON » Subhash R Bhamre | Offset | MoS | Defence | Budget | Army

India has the 3rd largest armed forces in the world and spends approximately 40 per cent of its total defence budget on capital acquisitions, and about 60 per cent of defence requirements are met through imports.
HYDERABAD: Nearly $14 billion worth of defence offset obligations would be discharged in India by foreign original equipment manufacturers (OEMs) by 2028, MoS for Defence Subhash R Bhamre said today, and indicated that the government proposes to reduce the defence budget by 50 per cent within a decade.

He said the defence industry has the potential to become a huge foreign exchange earner and also lead the country to its professed goal of self-reliance.

"Nearly $14 billion worth of defence offset obligations will be discharged by the foreign OEMs by 2028," he said while delivering the inaugural address at seminar - Leveraging defence expenditure as a tool for nation building - organised by College of Defence Management here.

He noted that India has the 3rd largest armed forces in the world and spends approximately 40 per cent of its total defence budget on capital acquisitions, and about 60 per cent of defence requirements are met through imports.

"The present government has emphasised on indigenous manufacturing to reduce the defence budget by 50 per cent within a decade," the Union minister said.

"There is an urgent need for innovation in the defence manufacturing sector with increased focus on R&D and to prepare a pool of human resource expertise which will help in making equipment and technologies cheaper," he said.

Thanks to the Centre's 'Make in India' campaign, the defence sector has moved from the periphery to the core of Indian manufacturing, he pointed out.

"The sector not only has the potential to augment manufacturing but also add nearly one million direct and indirect jobs," Bhamre said.

He also said the government is taking steps to bring in a framework that encourages collaboration between public and private sector companies for defence export based on public private partnership model.

"The DPSUs (Defence Public Sector Undertakings) and private sector should also put in place a system to share the capability and capacity to support overseas sales, servicing and maintenance throughout the life of the product," he said.

Pointing out that the human resource capacity in the private sector has already demonstrated its worth in fields of automobile, IT and service sectors at global platform, he said the government is trying to replicate the same model by inducing private sector and foreign OEMs to invest in defence manufacturing.


http://economictimes.indiatimes.com...com&utm_medium=referral&utm_campaign=ETTWMain



:rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl:.

Stupidity at its best.

Within a few years, India will be 3rd largest economy. 7500km of coastlines, two of the most aggressive nuclear armed nations surround our nation. Region of influence in IOR, India's backyard will dictate more policing. By 2030, as per many forecasts, India will be any from 6 trillion dollars to 10 trillion dollars economy.
What is this guy smoking???
 

AyanRay

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:rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl:.

Stupidity at its best.

Within a few years, India will be 3rd largest economy. 7500km of coastlines, two of the most aggressive nuclear armed nations surround our nation. Region of influence in IOR, India's backyard will dictate more policing. By 2030, as per many forecasts, India will be any from 6 trillion dollars to 10 trillion dollars economy.
What is this guy smoking???
I guess, he wanted to say cut imports by 50%.
 

Indx-techs

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Not surprised, recent sudden increase in defence budget is temporary for modernization of forces, adding some quality to quantity.
Otherwise, it was likely from way earlier plans, Indian defence budget had to suddenly grow to $100 billions by 2030.
 

ito

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Incorrect news reporting. The news was removed from TOI site.

What he meant was reducing exports, and boosting make in India program.
 

ito

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It is common sense, Asia is not Europe, and anyone suggesting that defense budget of India would be cut by 50% must be out of his mind.
 

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