India is still seeking to replace its Soviet-era MiG aircraft, while countries such as Japan and South Korea have acquired modern stealth fighters such as Lockheed’s F-35
In the world of multi-billion dollar defence contracts, India stands out.
The world’s biggest arms importer, with an annual defence budget of $43 billion — has been dangling a potential $15 billion fighter jet deal for more than a decade with Lockheed and Boeing, the world’s two largest contractors.
Although drawn-out negotiations are not uncommon in the arms world, India took 32 years to seal a deal with the United States (US) to buy 145 howitzers from BAE Systems Plc, with arcane procurement rules and shifting specifications contributing to the lengthy delays.
