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India Defence and Security Report Q3 2010
Business Monitor International, July 2010, Pages: 113
Business Monitor International's India Defence and Security Report provides industry professionals and strategists, corporate analysts, defence and security associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on India's defence and security industry.
India has a particularly large and sophisticated defence industry in comparison with the rest of the developing world. It can currently produce main battle tanks (MBTs), a variety of short- and mediumrange ballistic missiles, surface-to-air-missiles (SAMs) and a light combat aircraft (LCA), along with small arms, ammunition, artillery and armoured transports. Currently under design are a medium combat aircraft, expected to be produced this year and the BrahMos cruise missile, which has been developed in conjunction with Russia and has already been tested. However, India’s defence research and development (R&D) sector is far from advanced, proven by the lengthy development phases of the Arjun tank and the LCA.
The defence industry has been open to the private sector and companies have been allowed to provide components for nearly 30 years, but there is still only a very limited amount of involvement from civilian private and public manufacturers. What involvement does exist occupies the areas of raw materials, parts and components.
The country still faces various types of security issues. Maoists threaten the north of the country and, despite reconciliatory talks early in 2010, deaths are still being reported at their hands. Talks also took place between the Indian and Pakistani Foreign Secretaries in February 2010 in their first meeting after the attacks in Mumbai in November 2008. The talks ended positively, but did not prompt the start of formal peace talks. A decision in December 2009 to approve the creation of a new state, Telangana, from the south-eastern coastal state of Andhra Pradesh has caused the government to receive calls for statehood from other regions. Ensuring that all these territories and groups remain content is therefore a formidable task for any government, let alone one presiding over rapid social and economic change with limited financial resources.
Thanks to successful policy stimulus, a pick-up in commercial credit and the general improvement in global conditions, the country’s economic fortune is one area that is looking particularly good. Robust domestic demand continues to underpin economic activity and we expect real GDP growth to increase from 7.0% to 7.8% in the coming fiscal year.
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