NEW DELHI (PTI): The global defence industry, which was shrinking over the last few years, can expand by doing business in India, a multi-national consultancy firm has said.
According to a new financial report from Deloitte United States, defence contractors in the top global aerospace and defence companies experienced a one per cent decrease in global revenues in first half of the year, on top of the 3.3 per cent decline in revenues in 2011.
"With decreasing defence budget cycle in USA and Europe, their industry could look to expand their business in India due to its burgeoning requirement of aircraft, weapons, other security equipment," Deloitte Touche Tohmatsu India Private Limited Director Nidhi Goyal said.
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