India's $200B Military Spending

This is a India news story, published by CNBC, that relates primarily to the European Central Bank's news.

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CNBC's Inside India newsletter: How India's emerging as a formidable player in defense

Summary

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88% Informative

India plans to spend about $200 billion over the next 10 years on transforming and modernizing its military.

Heightened geopolitical tensions, skirmishes at the India - China border and Beijing 's elevated presence in the Indian Ocean have contributed to India ’s quest to beef up its defense.

India is already the world's top weapons importer but that's not stopping the country from strengthening its defense capabilities.

India has become increasingly aware of what's best to buy from foreign nations, and which equipment should be manufactured at home.

India 's ambition to expand its defense capabilities could make it a more attractive partner for American and Russian companies.

Negotiations on the India - U.K. free trade agreement are progressing well.

India 's economic growth figures will be the focus of the week .

An inflation report from the U.S. and the European Central Bank's meeting provide updates on price increases and interest rates in advanced economies.

The Indian rupee is depreciating, which would make IT services cheaper for overseas buyers.

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English

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