Defence Minister Rajnath Singh said on March 20 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, Mr. 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,” Mr. 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.