f which was bought from the Soviet Union over two decades ago – as the country is concerned with efforts by China and Pakistan to improve their own military capabilities.But blacklisting a leading global player like Finmeccanica -amid allegations from Italian prosecutors that the company bribed Indian officials to secure the sale of 12 helicopters may hurt New Delhi’s efforts to revamp its military equipment, as it would bring down the number of suppliers and reduce price competition,toms shoe store. We don t want to overreact because we don t want to let this issue affect our defence preparedness, Indian foreign minister Salman Khurshid said in an interview with The Times of India, with reference to the helicopter deal. We need to examine why corruption has happened on a defence deal like this. I can understand it when a poor quality product has been pushed through as a result of corrupt practices. But this chopper is not a poor quality product. So we need to get to the bottom of this, he added.Analysts agreed that, if the deal with Finmeccanica fell through, India s defense equipment could suffer. “In all probability, yes,toms kids shoes, it will delay the modernization plans of the armed forces. And that is a matter of great concern for the nation,” Dhiraj Mathur, an aerospace and defense analyst at PricewaterhouseCoopers India, told the Wall Street Journal. He said a likely slowdown in defense spending “will be a natural and unfortunate collateral damage” resulting from the Finmeccanica episode.With India planning to spend tens of billions of dollars in the coming years to buy new weapons from Russia, the U.S., Israel and Europe, the country has become a magnet for the defense industry –  especially as this sector has seen as slowdown in spending from the West.India relies on imports for more than 70% of its defense purchases despite the government’s push for local manufacturing. The country depends heavily on Russia for its arms purchases,cheap toms, although it has of late been diversifying its supplier base through increased deals with the U.S, the U.K., France and Israel.India’s defense ministry has put in place strict guidelines to prevent bribery and other corruption activities at a time when the country is increasingly heavily on defense purchases. Middlemen are officially barred in defense deals although analysts allege corruption in deal-making continues.In March 2012, the Indian defense ministry barred six companies, including Rheinmetall Air Defence–part of Germany’s Rheinmetall AG–and Singapore Technologies Engineering Ltd., from doing any business with state-run Ordnance Factory Board for ten years for alleged bribery. Rhinemetall and Singapore Technologies had denied any wrongdoing.India’s air force plans to acquire up to 400 planes and helicopters until 2022 to replace its aging fleet of MiG fighter jets, helicopters and transport planes. The plan includes a potential deal with Dassault Aviation of France to buy 126 Rafale jets for more than $10 billion.Although the Indian defense minister A. K. Antony said Related articles:

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