National security: How India can secure much-needed funds for defence

As India continues to face complex security challenges, experts emphasize the importance of bolstering its defence budget. Increasing this budget by even a single basis point as a share of the GDP could significantly enhance the country's military capabilities. Such a move would not only address immediate threats but also ensure long-term stability and security in the region. To secure the necessary funds, India could explore various strategies, including reallocating resources from less critical areas and enhancing revenue through economic growth. Engaging with international partners for technology transfers and joint ventures can also play a crucial role in maximizing the efficiency of defence spending. These measures could enable India to modernize its armed forces without imposing an undue financial burden on the economy. Furthermore, transparency and accountability in defence procurement processes are vital to gaining public trust and ensuring efficient use of funds. By adopting best practices from other nations and leveraging domestic innovation, India can strengthen its defence infrastructure. This holistic approach not only secures funds but also fosters a robust defence ecosystem capable of addressing both current and future security needs.

— Authored by Next24 Live