BREAKING NEWS

India 'very serious' about boosting local defense industry

By REUTERS

FEBRUARY 6, 2013 10:57

BANGALORE - India is drawing up policies to boost its defense industry, the defense minster said on Wednesday, as the government looks to increase local arms purchases and reduce imports.

India was "very very serious" about indigenization, A.K. Antony said at an air show in the southern Indian city of Bangalore, adding that the country's defense 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 neighbor and Asian rival China.

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