Aerospace Diary

Jan 28, 2011 Neelam Mathews India increases defense spend India has allocated $44.4 billion for its defense spending (services and civil) for its financial year starting April 2011- March 2012, up by 8.4% from the previous financial year. Of this, set aside for defense services is around $35.74 billion (including capital procurement of $15.04billion- an increase of 13.75% over last year). The contribution of defense spending (services and civil) is now about 2.72% of the GDP- up from last year’s 2.41%. The budget was announced by the Finance Minister in the Indian parliament today (February 28). Post Mumbai attacks of Dec 2008, there has been increased concern on the homeland security front with budgets steadily increasing for the police and paramilitary forces for border and coastal surveillance. As a result, the budget allocated to the homeland security sector is $10.17billion, up from $8.75 billion from the last year.  “There is no limit to the homeland security budget. ...

Aerospace Diary & Defense Report Sept 2, 2010 NEW DELHI — India’s space industry has braved the pitfalls of global recession, and in fact its budgets are expected to rise substantially, according to a study released at the recent Bengaluru Space Expo. The study is by Deloitte, the Confederation of Indian Industry and the Indian Space Research Organization’s (ISRO) marketing arm, Antrix. The study points out that India’s space budget of $1.26 billion for 2010 was increased by an estimated 22% from the previous year. Between 2003 to 2010, funding grew by 144%. Space spending is expected to increase further by an average of 14.8% annually over the next four years, reaching $2.17 billion by 2014. “It is hard to put the genie back in the bottle,” says Tom Captain, vice chairman and global aerospace & defensesector leader at Deloitte LLP. “India’s space industry is registering explosive growth, with many opportunities for indigenous as well as foreign suppliers to help fur...