India set aside 1.62 trillion rupees ($19.87 billion) for procurement of new weapons and platforms to be sourced mainly through domestic defense contractors in fiscal year 2023-24.
The country’s annual budget, released Feb. 1 ,envisages a total outlay INR 45.03 trillion. Of this, defense is allocated at INR 5.93 trillion, or about 13% of the total. This includes INR 1.38 trillion for defense pensions.