New Report Available: India Defence & Security Report Q1 2015
Fast Market Research recommends "India Defence & Security Report Q1 2015" from Business Monitor International, now available
[ClickPress, Fri Dec 12 2014] We believe that India's defence ambitions will continue to face challenges over 2015 . That said, the increase of the foreign inves tment cap to 49% from 26% s hould boost the defence industrial base. India's security risk is medium given India's issues with transborder and domestic terrorist groups and particularly in light of the growing prevalence of international terrorism . BMI highlights the corruption probe into the VVIP helicopter deal has the potential to complicate further other procurement deals in India.
India is concerned about the broad gap in its military budget compared to that of China's, and we expect that there will not be a huge increase in the budget due to constrained national economic conditions. The 12% y-o-y increase announced in July 2014 will mostly be dedicated to paying off past contracts, leaving little for the purchase of new equipment. Furthermore, India appears to be diversifying its defence partnerships away from its traditionally Russian ally. The Defence Ministry may also increasingly look to domestic defence hardware and systems manufacturers to meet production needs in line with 'Make in India' platform championed by newly elected Prime Minister Modi, who took office in November 2014.
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While, India remains the world's largest importer of military equipment, BMI expects the rate of growth in imports to slow over the coming years. Newly elected Defence Minister Parrikar's has promised transparency in a department blighted by corruption, which BMI believes will be key to boosting efficiency and streamlining defence procurement policies. In addition, India appears to be adopting a strategy similar to that of other emerging economies, which is to enter into joint ventures in the hope of acquiring technology and strengthening the industrial base. BMI thinks India's defence sector now has increased potential to attract more foreign investment as a result of the increase of the foreign...
The India Defence & Security Report features Business Monitor International (BMI)'s independent forecasts for national and international security, the defence industry, military expenditure, employment in arms production, and arms imports and exports, as well as examining industry trends and prospects, national and multinational arms producers and the regulatory environment.
BMI's India Defence & Security Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Indian defence and security industry.
* Benchmark BMI's independent defence and security industry forecasts on India to test other views - a key input for successful budgetary and strategic business planning in the Indian defence and security market.
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