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Aerospace & Defense Industries

India's $130bn defense update sparks interest from arms makers

Lockheed Martin and Boeing see opportunities in upgrade amid regional disputes

A fighter jet flies during the Aero India air show in Bangalore. The Indian government plans to spend $18.6 billion on purchases of weapons in fiscal 2021, starting in April.   © Reuters

BANGALORE -- A large-scale defense equipment renewal project, worth $130 billion, announced earlier this month by the Indian government led by Prime Minister Narendra Modi is attracting great interest from major arms manufacturers.

Defense Minister Rajnath Singh outlined a spending program over an eight-year time frame to modernize India's armed forces at the biennial air show Aero India held in the southern Indian city of Bangalore.

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