India to spend USD 130 bn for military modernisation: report

New Delhi: As India is facing security threats, the government has firmed up a plan to spend USD 130 billion to improve combat capability of the armed forces in the next five to seven years, reported News18.

According to official sources, the government has decided on a broad plan to speed up modernisation of the Army, Navy and the Air Force under which a range of critical weapons, missiles, fighter jets and submarines will be procured in the coming years.

Sources said the government's immediate priority is to fast-track infantry modernisation, including procuring 2,600 infantry combat vehicles and 1,700 future ready combat vehicles for the Indian Army.

Another key priority is to procure 110 multirole fighter aircraft for the Indian Air Force.

To bolster its operational capability, the Navy has already finalised a plan to have 200 ships, 500 aircraft and 24 attack submarines in the next 3-4 years. At present, the Navy has around 132 ships, 220 aircraft and 15 submarines.

The forces have been pushing for adequate allocation of funds so that they are well prepared to deal with the possibility of a "two-front" war on both northern and western borders.