Hardly any impact of global economic slowdown on Defence procurement: Rajnath Singh

While the world is dealing with an economic slowdown, severely impacted due to coronavirus pandemic, Defence Minister Rajnath Singh on Friday said that there would be hardly any impact of the current global economic situation on India's Defence procurement.

While the world is dealing with an economic slowdown, severely impacted due to coronavirus pandemic, Defence Minister Rajnath Singh on Friday said that there would be hardly any impact of the current global economic situation on India's Defence procurement. "There would certainly be an impact of the global economy on all nations but I feel there would be hardly any impact on India's Defence procurement," Singh said after releasing a draft of India Defence Procurement Procedure 2020.

Singh also said that the situation of the global economy may improve in the next few months. "The procurement procedure will be for the next five years. Also, we can't rule out a possibility that the economy will improve in the next 2 to 4-5 months. Here, I am talking about the global economy," he added. (ANI)