India plans to boost defence expenditure and sign ₹2 lakh crore contracts in FY26: Report
India will aim to increase its defence expenditure as a share of GDP from the current 1.9% to 2.5% in the next five-year plan, Defence Secretary RK Singh told CNBC-TV18.
He outlined key priorities and plans: India intends to sign defence contracts worth ₹2 lakh crore in FY26.
The defence ministry may request additional capital expenditure allocations from the finance ministry if needed.
India will also seek additional allocation during the five-year cycle of the 16th Finance Commission.
It is, however, too early to decide whether additional funds will be sought in the revised budget estimates for the current cycle.
These plans underscore India's intent to modernise its military capabilities and strengthen its strategic preparedness in the coming years.
Ahmedabad Plane Crash
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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