India 'very serious' about boosting local defence industry: Antony

BANGALORE Wed Feb 6, 2013 3:45pm IST

Defence Minister A.K. Antony waits to speak at a plenary session of the 11th International Institute of Strategic Studies (IISS) Asia Security Summit: The Shangri-La Dialogue in Singapore June 2, 2012. REUTERS/Tim Chong

Defence Minister A.K. Antony waits to speak at a plenary session of the 11th International Institute of Strategic Studies (IISS) Asia Security Summit: The Shangri-La Dialogue in Singapore June 2, 2012.

Credit: Reuters/Tim Chong

Related Topics

Priyanka Gandhi Vadra, daughter of Congress party chief Sonia Gandhi, adjusts her flower garlands as she campaigns for her mother during an election meeting at Rae Bareli in Uttar Pradesh April 22, 2014. REUTERS/Pawan Kumar

Election 2014

More than 814 million people — a number larger than the population of Europe — are eligible to vote in the world’s biggest democratic exercise.  Full Coverage 

BANGALORE (Reuters) - India is drawing up policies to boost its defence industry, the defence minister said on Wednesday, as the government looks to increase local arms purchases and reduce imports.

India was "very very serious" about indigenisation, A.K. Antony said at an air show in the southern Indian city of Bangalore, adding that the country's defence procurement policy was being adjusted.

India, the world's biggest arms importer in recent years, plans to spend around $100 billion over the next 10 years to upgrade its largely Soviet-era military equipment as it looks to keep pace with neighbour and Asian rival China.

(Reporting by Anurag Kotoky and Ananthalakshmi Ananthsankar; Editing by Ron Popeski)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

RAINFALL THIS YEAR

REUTERS SHOWCASE

Election 2014

Election 2014

Thousands mob Modi as election race starts in Varanasi.  Full Article 

Monsoon Forecast

Monsoon Forecast

Met office rules out surplus monsoon in 2014.  Full Article 

Facebook's Performance

Facebook's Performance

Facebook Q1 revenue grows 72 percent on rising mobile ads.  Full Article 

Earnings Season

Earnings Season

Bharti Infratel Q4 net profit jumps 64 percent.  Full Article 

Solar Dispute

Solar Dispute

Green groups urge U.S. to drop solar trade case against India.  Full Article 

Oil Imports

Oil Imports

India to make May-July oil payments to Iran - sources.  Full Article 

Rice Exports

Rice Exports

India may cede top rice exporter spot under Southeast Asian price onslaught.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage