Going Global Defense Initiative - Virginia Economic Development Partnership

  Opportunities in the Indian Defense Sector

Kiran Shetty, Feedback Consulting
Published: October 31, 2016
  • India is the 3rd largest armed forces and 6th largest defense spender in the world.
  • India spends around 1.5-2% of its GDP on Defense.
  • According to the FY17 (2016-17) Defense budget, 35% of its total Defense budget has been allocated for the capital expenditure.
  • The budget allocation for Defense has been growing at a CAGR or 8.2% over the last 4 financial years.
  • Most of the times, the actual spending has been short of budget estimates, mostly due to delays in project approvals.

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