Dateline City:
LONDON
Defence spend expected to re-accelerate after a slow down between 2012-2014
LONDON, (8 February, 2013) – IHS (NYSE: IHS), the leading global source of information and analytics, forecasts that India will become the fourth biggest defence spender in the world by 2020 behind the U.S., China and Russia – surpassing France, Japan and the U.K. over the next eight years.
IHS Jane’s Defence Budgets projects that India’s defence spend will reach USD65.4 billion in 2020 despite cuts announced by India’s defence minister in January 2013 caused by the challenging economic and fiscal climate.
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