India Raises Defence Spending 7 pct, Eyes Purchases

Posted on: Mar. 1st, 2006 || Source: in.today.reuters.com | E-mail Article | Print Article

NEW DELHI (Reuters) - The government raised its defence spending on Tuesday by a modest 7 percent for the next fiscal year, aiming to fund ambitious plans to modernise its 1.3 million-strong military, the fourth largest in the world.

India's armed forces have been on a shopping spree over the last few years, looking for new fighter and trainer jets, submarines, an aircraft carrier, artillery systems and radars despite slow moves to make peace with arch rival Pakistan.

Defence experts say the forces need to modernise and upgrade their mostly Russian vintage equipment as Pakistan and giant neighbour China -- both of whom have fought wars with India -- remain threats.

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