India Eyes To Cut Defence Budget By 50% Within A Decade: Minister of State For Defence Subhash Bhamre

HYDERABAD: Nearly $14 billion worth of defence offset obligations would be discharged in India by foreign original equipment manufacturers (OEMs) by 2028, MoS for Defence Subhash R Bhamre said today, and indicated that the government proposes to reduce the defence budget by 50 per cent within a decade.



He said the defence industry has the potential to become a huge foreign exchange