India is world's largest arms importer: SIPRI
PTI India was the world's largest importer of major arms in the last five years and its overseas procurement was far greater than that of China and Pakistan, a Stockholm-based think-tank said today. As per the latest report of the Stockholm International Peace Research Institute (SIPRI), India accounted for 13% of the total global arms import between 2012-16 which is highest among all the countries.The report said while China was increasingly able to substitute arms imports with indigenous products, India remained dependent on weapons technology from Russia, the US, Europe, Israel and South Korea."India was the world's largest importer of major arms in 2012-16, accounting for 13% of the global total," the leading think-tank said.It said India increased its arms imports by 43% ...
Tata Group looks set to double its defence revenue in the next 5-7 years
Tata group's revenue from defence & aerospace is about Rs.2650 crore, an increase of 7.5% from last year The Dollar Business Bureau Last week, Tata Group signed agreements with Bharat Forge and General Dynamics Land Systems (GDLS) to manufacture FICVs (Fighting Infantry Combat Vehicle) for the armed forces With the government making attempts to reduce arms imports and boost defence manufacturing in the country under the Prime Minister-led Make in India initiative, Tata Group - one of Indias major defence manufacturers and exporters looks set to more than double its revenue to about $1 billion over the next five to seven years. Tata group, which forayed into defence manufacturing business in 1958, has been able to achieve a limited success. But after ...
