NEW DELHI, India: The Indian government has approved $3.5 billion to modernize its military equipment and to boost its defence industry.
The approval came during a meeting of the Indian Defence Acquisition Council which held its first meeting since the Bharatiya Janata Party (BJP) government came into power in India, one of the world’s biggest arms importers relying on Russian and United States.
The Indian Defence Minister Arun Jaitley who presided over the meeting said that the Indian government was intended to increase its military spending by 12 percent this year.
