Yes, India is not rich yet but its economy is growing and the size of Indian economy is becoming more and more impressive. Even just two decades ago, international aviation companies did not count India as an important market. Now, it is just the opposite. Aviation companies are expecting to make money in the Indian market and they are trying to attract buyers in India. Indian government can afford now to spend a lot of money in this sector.
Montgomery Advertiser reported:
India's defense minister told the gathering Wednesday that India soon will invite bids from combat aircraft makers for up to $10 billion worth of fighter jets.
"It is in the final stages," Defense Minister A.K. Anthony said Wednesday, without giving a specific time frame. He was speaking to reporters at the air show in the southern technology hub of Bangalore.
The deal for 126 fighter jets the country's air force plans to buy is estimated to be worth between $6.5 billion and $10 billion.
India -- whose economy likely will grow 9.2 percent for the fiscal year that ends March 2007, according to government estimates -- also is considering buying nearly 200 army reconnaissance and observation helicopters, Anthony said.
It is nice that Indian government can now afford to spend $10 billion for buying fighter jets. However, many Indians would love to have more cash going to fight poverty rather than jets.
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