Li Keqiang's India Visit
With wary eye on the U.S., China courts India
Chinese Premier Li Keqiang, smiling and effusive, was out to smooth ruffled feathers in India this week, promising to ease tensions and increase trade between Asia's fastest growing economies in his first trip overseas since taking office. Full Article | Slideshow
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India 'very serious' about boosting local defence industry: Antony
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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
BANGALORE |
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)
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