India will be fourth biggest defence spender by 2020

[IndoCarib]

Information Handling Services (IHS), the leading source of information, insight and analytics, has predicted that India would become the fourth biggest defence spender by 2020, behind the U.S., China and Russia, surpassing France, Japan and the U.K. IHS Jane’s Defence Budgets projects that India’s defence spend will reach $65.4 billion in 2020 despite cuts announced by the government last month, caused by the challenging economic and fiscal climate. This obstacle is expected to wane over the next three years, with IHS expecting India’s GDP growth to recover to rates of around 8 per cent by 2015 – allowing India’s plans for increasing defence spend to recover from 2015 to 2020.

Based on current projections, IHS Jane’s Defence Budgets expects the Indian defence budget, including related pensions obligations, to reach $55.6 billion over the five years.

Craig Caffrey, Senior Asia-Pacific Analyst, IHS Jane’s Defence Budgets, said: “The economic growth that fuelled increasing defence spend in recent years faltered in 2012 and that’s what forced the government to re-visit its spending assumptions. Defence spend as a percentage of the GDP is actually projected to continue to fall through to 2020, but that will still allow for significant real growth in dollar terms. We anticipate that India’s defence spend will overtake France’s in 2016, [that of] the U.K. in 2018, and Japan’s in 2020. By the end of the decade, India is expected to be spending up to $17.4 billion specifically on the procurement of defence equipment each year.’’

‘Major market’

In his comments, James Hardy, Asia-Pacific Editor, IHS Jane’s Defence Weekly, said: “India continues to be a major market for the international defence industry, with major investments in all three services and its strategic missile forces. While short-term budget cuts will have an effect on these procurements, India’s geostrategic position and the parlous state of much of its inventory means that it will continue to invest in new fighter aircraft, attack helicopters, howitzers, submarines and aircraft carriers, to name but a few of its many programmes.”

The Hindu : News / National : India will be fourth biggest defence spender by 2020

 

[RISING SUN]

It means more foreign companies will head towards India business purposes which will create more job opportunities & advanced tech transfer.

 

[farhan_9909]

65billions?

i doubt.it will be more about 100billions since indian economy would be between 3-4trillions by 2020

 

[Koovie]

65billions?

i doubt.it will be more about 100billions since indian economy would be between 3-4trillions by 2020

If the global economy sentiment improves and India gets a stronger and more useful government then yes, but not like now.

 

[Rajaraja Chola]

Nothing to be proud or happy of though. By that time, many products should be made indigenous and poverty should be brought down less than 10pc.

 

[Hemlock Khalid]

who is India going to fight with all that???

 

[protest]

who is India going to fight with all that???

whoever tries to steal Kashmir from us.

 

[Hemlock Khalid]

whoever tries to steal Kashmir from us.

of course......

 

[Tshering22]

Nothing to be proud or happy of though. By that time, many products should be made indigenous and poverty should be brought down less than 10pc.

Poverty is also corresponding to the number of kids especially being born among rural and ultra rural groups of people. Please remember that most of the BPL families, illiterate labourers, domestic help and certain communities like muslims have a high birth rate among them.

With the current population forecast, our population is estimated to stabilize in 2065. This is where China's tactics come into play. Apart from creating jobs, they are also simultaneously taking efforts to slow down population boom through incentives, advisories and even force; which we must appreciate.

Sadly in our country, we cannot categorize people and ask them to not have multiple kids. But there must be a solution to this. Sanjay Gandhi tried to force sterilization of the poor people and the mob rule started creating problems. His method was wrong but his motive was genuine.

Prosperity is achieved through a combination of:

1. economic development
2. job creation
3. population control
4. resource management
5. political will
6. single-frame focus.

Without these 6 points, it will be very difficult.

 

[Chinese-Dragon]

65billions?

i doubt.it will be more about 100billions since indian economy would be between 3-4trillions by 2020

Yep, India's defence budget reaching 100 billion by 2020 sounds much more realistic.

And I would love to see China's defence budget in 2020.

Most importantly, we need to keep up our growth trajectory, that's the best way of ensuring a decent defence budget.

 

[Bhasad Singh Mundi]

Whatever may be the defense budget, a major chunk should go for R&D and indigenous weapons procurement.

 

[UKBengali]

Yep, India's defence budget reaching 100 billion by 2020 sounds much more realistic.

And I would love to see China's defence budget in 2020.

Most importantly, we need to keep up our growth trajectory, that's the best way of ensuring a decent defence budget.

Between 250-300 billion nominal in US dollars and 400-450 when PPP is taken into account.