India's increasing arms trade
WASHINGTON, Feb. 8 (UPI) -- India's flourishing economy has propelled it to the top ranks of arms purchasers in the global economy.
During 2004-2005, New Delhi bought $6 billion in armaments on the world market, followed by China with $3 billion of defense purchases and Saudi Arabia, formerly a leader, with $2 billion.
India's new status is exemplified in the current DEFEXPO in New Delhi, where more than 400 defense equipment manufacturers are lining up for potential contracts, according to Channelnewsasia.com.
Among the contenders are more than 20 U.S. companies. They include the largest U.S. defense manufacturer, Lockheed Martin, attempting to convince New Delhi to purchase its F-16 fighter and P3C Orion surveillance planes. Boeing, which is bidding for a contract to sell 126 fighters to India, is also present.
As India becomes the world's largest arms importer, arms import deals are potentially worth billions of dollars.
The purchases are not for solely off-the-shelf equipment, as the Indian government is more interested in joint ventures and co-production.
Traditional allies Britain and America are competing in the market. Senior military adviser with the United Kingdom's Defense Export Services Organization, Gavin Mackay, said: "There are tremendous opportunities right across all three -- land and sea and air -- that we look to in the future. We know that India is developing hugely in terms of software, and you have very good technical capabilities that once again are improving all the time."
During 2004-2005, New Delhi bought $6 billion in armaments on the world market, followed by China with $3 billion of defense purchases and Saudi Arabia, formerly a leader, with $2 billion.
India's new status is exemplified in the current DEFEXPO in New Delhi, where more than 400 defense equipment manufacturers are lining up for potential contracts, according to Channelnewsasia.com.
Among the contenders are more than 20 U.S. companies. They include the largest U.S. defense manufacturer, Lockheed Martin, attempting to convince New Delhi to purchase its F-16 fighter and P3C Orion surveillance planes. Boeing, which is bidding for a contract to sell 126 fighters to India, is also present.
As India becomes the world's largest arms importer, arms import deals are potentially worth billions of dollars.
The purchases are not for solely off-the-shelf equipment, as the Indian government is more interested in joint ventures and co-production.
Traditional allies Britain and America are competing in the market. Senior military adviser with the United Kingdom's Defense Export Services Organization, Gavin Mackay, said: "There are tremendous opportunities right across all three -- land and sea and air -- that we look to in the future. We know that India is developing hugely in terms of software, and you have very good technical capabilities that once again are improving all the time."
posted by Marko at 2/08/2006 03:32:00 PM
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