'India to invest 130 billion USD in 7-8 yrs for military modernisation': Rajnath

Defence minister Rajnath Singh said India to invest around 130 billion dollars for military modernisation. He added that this spending will be done over the next 7 to 8 years. Rajnath Singh was addressing the Valedictory Function of Aero India 2021 in Bengaluru. "We don’t mean to be isolated from the world by self-reliance or act as a closed economy. It seeks to promote globalisation by making India a more competitive player. We will to invest around 130 billion USD for military modernisation in next 7-8 years. Success of aero India presents a glimpse of the opportunities, possibilities in India," he said.