Make in India

Import Substitution

March 7, 2015

Import substitution is an aggressive economic policy employed by emerging economies to promote domestic production and self-sufficiency in many sectors. It is also seen as a means to reduce dependency on developed nations. IS seeks to provide added protection to domestic industries via tariffs, import quotas, government...

Challenges to the defence procurement

February 25, 2015

India is having the 3rd largest armed forces of the world, with an annual budget of US$ 38 billion and 40% of this is used for capital acquisition. In the next 7-8 years this budget would be increased to around US$ 130 billion for modernization of armed...