INDIA NEEDS TO VASTLY IMPROVE ITS DEFENCE CAPABILITY
Nantoo Banerjee
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2022-03-14 10:44
The Russian attack on Ukraine seems to have given a wakeup call to countries in Europe and Asia to substantially step up their annual defence expenditure to protect themselves from possible external assault. Given the ominous security situation in Europe, a number of countries, including Germany, Sweden, Romania, Latvia, Finland, the Netherlands and Belgium have raised their defence expenditure for 2022. Germany heads the list with chancellor Olaf Scholz allocating an additional Euro 100 billion (US$110.65 billion) for the country’s armed forces, more than doubling its last budget of Euro 47 billion. He said the Russian invasion of Ukraine was a “turning point in the continent’s history”. Latvian President Egils Levits said that while the European Union (EU) remains one of the most important economic players globally, it is a “midget” in political terms. The EU has been significantly underspending on defence and the military.