India approves $22 billion in military purchases in principle
India has approved, in principle, about $22 billion worth of military purchases. Approval in principle is an early step before contracts are signed.
ContextIndia buys much of its defence equipment from foreign suppliers, so large purchase approvals are closely watched by the armed forces and industry. The Defence Acquisition Council is the body that grants such approvals before contracts are negotiated.
Read at Reuters
Burning Potato score: 22%