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India Defence and Security Report 2016

  • May 2016
  • -
  • Business Monitor International
  • -
  • 42 pages

Includes 3 FREE quarterly updates

BMI View: India is one of the biggest defence spenders globally. The country has one of the world's largestarmed forces - much of which requires modernisation - and faces a range of external and internal securitythreats that drive investment into military personnel and equipment including terrorism, insurgencies,tensions with neighbouring Pakistan, and China's growing assertion in the region. India remains reliant onimports to meet much of its armed forces' requirements for technologically advanced equipment; however,amid efforts to develop and expand the local defence industry under Prime Minister Modi's 'Make in India'initiative, we expect the country's huge defence trade deficit to gradually narrow over the coming decade.

Latest Updates

- India's FY2016-17 budget proposal, announced in February 2016, amounts to INR2.49trn (USD36.6bn),a moderate y-o-y increase in local currency terms. Of the total, 52% of spending (excluding pensions) hasbeen allocated to the army, while the air force will receive 33%, the navy 16%, and the Defence Researchand Development Organisation (DRDO) 5%.

- In April-December 2015, the Indian government reported a 39% y-o-y increase in defence exports toUSD208mn.

- According to figures from the Indian defence ministry reported by TASS, Indian contracts for Russiandefence equipment exceeded USD5bn in the last three years (up to 2015), compared with USD4.4bn forthe US.

- As per the recently signed US-India defence cooperation agreement, the US is currently negotiating thetransfer of 30-40 defence-related technologies to India.

- BEL-Thales Systems Limited (BTSL) is jointly developing a fire-control radar, named Pharos, withThales Netherlands as per an agreement signed in March 2016.

- India and Russia resumed discussions to jointly develop a fifth generation fighter jet in February 2016.

- The Indian MoD is working to modernise state-owned naval shipbuilders in order to enhance theirproductivity and speed up delivery of vessels. On March 8 2016, the ministry stated it had spentUSD373mn on modernising four shipbuilders (MDL, GRSE, GSL and HSL).

Table Of Contents

India Defence and Security Report 2016
BMI Industry View 7
Table: Headline Defence Expenditure Forecasts (India 2016-2020) 7
SWOT 10
Industry Forecast 11
Defence Expenditure 11
Table: Defence Expenditure (India 2014-2019) 11
Table: India (Defence Expenditure 2020-2025) 12
Defence Trade 13
Exports 14
Imports 14
Industry Risk Reward Index 16
Defence Industry Risk Reward Index 16
Table: Asia Pacific - Defence Industry Risk Reward Index 16
Rewards 16
Risks 17
Market Overview 18
Defence Market Overview 18
Domestic Defence Sector 18
Domestic Defence Market 22
Armed Forces Overview 24
Armed Forces 24
Table: Armed Forces Personnel (India 2008-2013) 25
Table: Indian Armed Forces (IAF) - Overseas Deployments 25
Security Overview 26
Domestic Threats 26
Regional Threats 28
Company Profile 30
BAE-HAL 30
Bharat Dynamics (BDL) 32
Bharat Electronics (BEL) 33
Hindustan Aeronautics (HAL) 35
Honeywell International India 37
Ordnance Factories (OF) 38
Rolls-Royce International 39
Methodology 40
Risk/Reward Index Methodology 40
Sector-Specific Methodology 41
Table: Defence Risk/Reward Index Indicators 41
Weighting 42
Table: Weighting of Defence Risk Reward Index 42

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