21st Century Wire says…
The interdependence between the BRICS nations is growing week by week.
India is set to spend a massive $25 Billion on 127 Sukhoi T-50 5G fighter jets. India’s deal with France for a similar number of Rafale jets has recently stalled.
The move deepens the growing relations and interdependence between the BRICS nations, with Russia recently ratifying the BRICS Development Bank; which is looking to challenge the IMF. That move saw the weaponization of ratings agency Moody’s, who downgraded Russian debt to ‘junk’ status just hours later.
According to United Nation’s Millennium Development Goals program some 270 million people were living below a poverty line of $1.25 per day between 2011-2012, which is around 20% of India’s population.
While this move will certainly create some jobs in both Russia and India, how do these 270 million people feel about their government spending such a huge sum on fighter jets? After all, what war is India planning on fighting exactly?
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India ready to spend $25bn on Russian 5G fighter jets
The stalemate over the 4th-gen Rafale fighter jets deal with France has forced the Indian military to accelerate an even larger project with Russia on the joint development and purchase of an equal quantity of 5th-gen fighters.
India is now ready to invest $25 billion in the development and purchase of 127 fifth-generation stealth fighter aircraft (FGFA). It will also make concessions to speed up the delivery of fighters and have the first ones available in 36 months instead of the previously envisaged 94 months, sources told The Times of India.
FIND OUT MORE ABOUT THE BRICS: 21st Century Wire BRICS Files