The COVID-19 global pandemic is forcing countries the world over to rethink government spending — reallocating funds from defense and security sectors to other priority areas along public health and economic fronts to contain the spread of the pandemic and manage its effects on the economy. Despite the fiscal strain imposed on New Delhi by COVID-19, the crisis also presents a unique opportunity for India to enhance the country’s defense exports at a point when the country is striving towards self-sufficiency in the sector.
All tagged Defense Industry
It is well known the world over that the European Union is a major economic power thanks to the single market. Yet, it is far behind other major world powers in arms development and sales. Despite the inclusion of weapons in the single market, there exists no common market for the defense. The advantages to unifying the defense industry and creating a single market for defense are clear and undeniable.