Challenges and Opportunities in the Areas of Defence Finance and Economics: Navigating a Complex Landscape

Abstract

India faces several challenges and opportunities in defence finance and economics. On the one hand, the country’s defence expenditure is rising steadily, causing a strain on the economy. On the other hand, the Indian defence industry is proliferating, presenting an opportunity for job creation and economic growth.

This article discusses the key challenges and opportunities facing India in the areas of defence finance and economics. It argues that the country needs to adopt a long-term strategic approach to defence finance and that it needs to reform the defence procurement process to make it more efficient and transparent. It also emphasises that India needs to focus on indigenisation in the defence sector and that it needs to develop strategic partnerships with other countries in order to strengthen its defence capabilities.