Indian government says Defence Acquisition Council approves proposals worth some INR 2.4tln; proposal includes Russian S-400 missile defence systems

The approval of proposals worth INR 2.4 trillion by India's Defence Acquisition Council, particularly involving the Russian S-400 missile defense systems, signals a significant geopolitical development. This move may strain India's relations with the U.S., as the S-400 has been a controversial purchase, impacting trade dynamics and potentially influencing currency flows and market sentiment in the region.