BMI View: After years of rapid economic growth, India has suffered a setback over the last 12 months, as its economy has slowed and the government has been forced to rein in spending. While the cuts faced by the Ministry of Defence (MoD) have not been as severe as initially expected, the 2013 defence budget is down slightly on last year – an unexpected challenge that will make it difficult for the MoD to pursue all of its procurement ambitions. This may force the department to make tough choices and prioritise some programmes over others. It also makes the need …
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