NEW DELHI — India’s defense ministry cleared Wednesday proposals worth nearly $700 million to buy military equipment but deferred a key multi-billion dollar decision on replacing the country’s aging air transport fleet.
India, the world’s largest buyer of weapons, is in the midst of revamping its aging military equipment and recently lifted a cap on foreign investment in defense.
The country has been keen to move ahead with defense orders amid a string of new border skirmishes with arch-rival Pakistan in the disputed Kashmir region and an increasingly assertive China.
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