India-US defence trade to reach ₹1.2 lakh crore this year: Pentagon

The bilateral defence trade between India and the US is expected to reach $18 billion (over ₹1.2 lakh crore) by year end, the US Department of Defence has said. The statement comes ahead of 9th India-US Defence Technology and Trade Initiative meeting next week. The US Department of Defence added the country is committed to strengthen its partnership with India.