The four-day biennial India Defense Exhibition, DefExpo 2010, witnessed fierce competition from key players in the global arms market to corner a sizable chunk of the expanding Indian defense budget allocation. India is expected to increase its defense expenditure to $80-100 billion in the next decade.
A K Antony, India’s Minister for Defense said that he expects the defense spending to grow from the present 2.5% of GDP in the coming years. He attributed this hike to the robustness of the Indian economy. Moreover, the Indian military need to find replacements for the Soviet equipments acquired three to four decades back.
However, Mr. Antony stressed the need for self-reliance in the field. He clarified government’s stand when he added, “We want to produce equipment for the armed forces internally, domestically.”
This revelation has prompted many international arms traders to search for partners locally. At present, international players bag a whopping 70% of India’s arms purchase. Russia retains the top spot, though the slide started with the collapse of USSR.
The other key players are Israel, which occupies the second spot and the USA, which is aiming to consolidate its position. Both are present at the defense exhibition in full force, with Israel occupying the most floor space and the USA having the maximum number of participants. Boeing is actively campaigning for the purchase of its fleet to replace the Russian MiG-21.
Conspicuous by their absence at the exhibition are neighbors China and Pakistan, with whom India had fought wars in the past. Both were not invited to participate. A total of 650 arms merchants from 35 countries have set up stalls at the exhibition held in New Delhi.
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