Modi Closes In on $660 Million Weapons Deal
- One of army’s three major gun purchases after 30-year hiatus
- Part of Modi’s 10-year procurement plan to modernize military
India Said Close to $660M Arms Deal
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India is set to finalize a $660 million deal for mobile heavy artillery weapons -- its third major gun purchase in the past year and a sign Prime Minister Narendra Modi’s defense spending spree is far from over, according to people with knowledge of the matter.
The deal, expected to be approved in a cabinet decision in the coming days after extended commercial price negotiations, is a big win for Larsen & Toubro Ltd., a major Indian infrastructure and engineering company which partnered with South Korea’s Hanwha Techwin to modify the howitzer for local conditions.