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Centre to invest USD 130 bn for fleet modernization

Centre to invest USD 130 bn for fleet modernization

The Indian government has planned to introduce a mega plan to spend $130 billion for fleet modernization in the next 5-7 years across all armed forces – Indian Navy, Indian Air Force and Indian Army.

The Centre focuses to develop the domestic defence industry.

The key policy initiatives regarding the mega plan are expected to be rolled out in the next couple of months.

Plan Structure:

Indian Army

Modernization of infantry, including procuring 2,600 infantry combat vehicles and 1,700 future-ready combat vehicles for the Indian Army, is also under the high priority of fleet modernization.

Indian Navy

Indian Navy has already finalized and proposed a plan to have 200 ships, 500 aircraft and 24 attack submarines in the next 3-4 years. Currently, there around 132 ships, 220 aircraft, and 15 submarines in the Indian Navy.

Indian Air Force

The mega plan also includes procuring of 110 multirole fighter aircraft for the IAF. A detailed plan is yet to be finalized. The government is also planning to cover the airspace over all major cities, including Delhi and Mumbai.

Missiles

India's missile armory currently has Agni-1 with a 700 km range, Agni-2 with a 2,000-km range, Agni-3 and Agni-4 with 2,500 km to more than 3,500-km range.

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