Information Handling Services (IHS) 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. The challenging economic and fiscal climate 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.
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