Global economic situation will affect all nations, but not India's defence procurement: Rajnath

Source: PTI | Published on 20th March 2020, 3:53 PM | National News |

New Delhi: Defence Minister Rajnath Singh said on Friday that the global economic situation would affect all nations, but ruled out any impact on India's defence procurement.

Speaking at the launch of the draft Defence Procurement Procedure, 2020, Singh said the global economy could improve in the next two-five months.

"There would certainly be impact of global economy's condition on all nations. I feel there would be hardly any impact of global economy's condition on India's defence procurement," Singh said when asked if the global economy's condition and the coronavirus pandemic would affect Indian defence procurement.

"We can't rule out a possibility that global economy will improve in next 2 to 5 months," he said.

Read These Next

Elections to 18 RS seats on June 19: EC

The polls to 18 Rajya Sabha seats, deferred due to the coronavirus pandemic, will be held on June 19, the Election Commission announced on Monday.

Gujarat braces for cyclone, deploys 10 NDRF teams

In anticipation of a cyclonic storm making landfall on the Gujarat coast on June 3, the state government on Monday ordered evacuation of people living in low-lying areas and deployed 10 teams of the National Disaster ...

Govt hikes paddy MSP by Rs 53/qtl for 2020-21

The government on Monday hiked the minimum support price (MSP) of paddy marginally by Rs 53 per quintal to Rs 1,868 per quintal for the 2020-21 crop year, while the rates for oilseeds, pulses and cereals were also ...