The High Stakes of India’s Military Modernisation Drive
New Delhi’s recent defence budget announcement for fiscal year (FY) 2026-27 represents more than just a budgetary jump; it carries important implications for South Asian stability, warranting closer reflection. The allocation of USD 85 billion to defence, with capital expenditure rising by 22 per cent compared with a 17 per cent increase in revenue expenditure, clearly reflects the government’s prioritisation of accelerated military modernisation over routine operational sustainment.


