India Plans To Spend $30 Billion On Arms In Next Five Years
Som Patidar - All Headline News Staff Writer New Delhi, India (AHN) - In a step to make its military more advanced, India plans to spend over $30 billion for purchasing of military arms during 11th plan period i.e. 2007-2012. A defense ministry official told Times of India, "Though less than the 3% was demanded by armed forces, we expect the defense expenditure to reach 2.57% of GDP in the 11th Plan from the present 2.33%. We are looking at an overall 9% growth in defense expenditure." India is already one of the largest defense importers in the world, as during the previous year India has made $6 billion purchase of armaments. On the other hand, two other big buyers, Saudi Arabia and China made purchases of just $2-3 billion.
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