Union Defence Minister Rajnath Singh on Friday said that the global economic situation due to the coronavirus (COVID-19) will impact all nations but not India's defence procurement.
Speaking at the launch of Defence Procurement Procedure, 2020 draft, he said, "Global economic situation will certainly impact all nations. I feel there will be hardly any impact of the global economic situation on India's defence procurement."
He also said that the possibility that the global economy will improve in the next 2-5 months can't be ruled out, adding that the procurement procedure will be for the next five years. "We can't rule out the possibility that the global economy will improve in the next 2 to 5 months. The procurement procedure will be for the next five years."
"The Draft Defence Procurement Procedure (DPP) 2020 is ready and it will be put in the public domain," he added.
