MUMBAI (Reuters) – India will earmark a record 75% of its defence capital procurement budget for the domestic industry in 2023-24, the country’s defence minister said on Wednesday.
One trillion rupees ($12.1 billion), which was 75% of the country’s defence procurement budget was set aside for Indian companies this year, up from 68% last year, Rajnath Singh said at the ongoing Aero India event in the southern city of Bengaluru.
($1 = 82.8010 Indian rupees)
(Writing by Shilpa Jamkhandikar)
