With the 2014 general election staring us in the face, the Finance Minister, Mr. P Chidambaram, presented a budget that resembles a financial bulwark for the masses – but where defence, like others, has been a casualty in the bargain. India had always been an important export destination for weaponry and defence equipment, areas which were monopolized by USSR during the greater part of the Cold War. Even after many entry barriers were removed allowing Western nations to penetrate the Indian defence market, the lion’s share of the defence pie continued to be controlled by Russia – a trend that is still as much in vogue as it was yesteryear! And this budget gave India all the more reason to continue the said trend – a glimpse of which is displayed every year during our Republic Day celebrations where our government showcases the country’s military might as tableaus in front of the entire nation. This year, most of the defence weapons displayed were either imported or were assembled ...
Dr. Arindam Chaudhuri
(An IIPM Think Tank Blog)