On estimate suggests India will need $250 billion in capital to modernise defence equipment over the next decade. Historically, 60-70 per cent of India's defence requirements are met by imports. Major steps have been taken since 2014 to reverse this trend. A progressive Defence Procurement Procedure, greater FDI, easier licensing norms are in place. How can Budget 2017 capitalise on the momentum that's been generated? Gokul Chaudhri, Leader, Direct Tax, BMR & Associates, and Dhiraj Mathur, Partner & Leader – National Aerospace & Defence Practice at PwC review the defence sector's wishlist.
