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India to spend USD 130 billion on military modernisation in next 5-7 years

As security threats loom, the Indian government has firmed up a mega plan to spend a whopping USD 130 billion to bolster the combat capability of the armed forces in the next five to seven years. Sources said the government has decided to speed up the modernisation of the Army, Navy and Air Force under which range of critical weapons, missiles, fighter jets, submarines and warships which will come in within the next 5 to 7 years.