New Delhi, November 13:
India, the largest arms purchaser among emerging nations, said today it will not prune its military spending, due to the growing threat from terrorism and regional tensions.
India annually spends $14 billion, or 2.34 per cent of its Gross Domestic Pro-duct, on its military. Since 2004 it has either used or committed billions of dollars in modernisation projects planned until 2010.
â€œIt is a harsh reality that defence expenditure involves huge outlays on acquisitions,â€ foreign ministry Pranab Mukherjee told visiting defence officials from 40 countries including Britain, China, Germany and the US. â€œTh-ere is no denying the fact that the challenge of modern warfare with the likely nuclear, biological and chemical dimensions cannot be met with outdated technologies,â€ he said.
â€œThese assume greater significance because of unfathomable dangers ari-sing from proliferation of nuclear technologies and the capability acquired by international terrorist org-anisations. And therefore there is no escape from modernisation of forces.â€