India spent over Rs 4,42,000 on defence equipment

Last Updated: Monday, December 19, 2011 - 21:50

New Delhi: India spent over Rs 4,42,000
crore in the last ten years on procuring defence equipment for
the armed forces from both foreign and Indian players, Lok
Sabha was informed on Monday.

"The total expenditure on defence purchases by India
during the years from 2001-02 to 2010-11 (revenue and Capital)
was Rs 4,42,607 crore," Defence Minister A K Antony said in
reply to a written query.
In view of threat perception, India has made significant
investments in upgrading and augmenting the armed forces as it
recently signed deals worth billions of US dollars for
procuring aircraft such as Hawk Advanced Jet Trainers, C-130J
Super Hercules and C-17 strategic airlift transport aircraft,
he said.

In the next five years, the Government is expected to
spend another USD 100 billion on the modernisation programme
of defence forces for procuring artillery howitzers, combat
aircraft, armoured vehicles and upgrading existing inventory.
Antony said the procurements have been made from "Indian
private sector, public sector undertakings, Ordanance
Factories and foreign sources."

In reply to a query on defence shipyards, Minister of
State for Defence M M Pallam Raju said, "Formation of joint
ventures has been put on hold till formulation of suitable
guidelines regarding the manner in which JV partner can be
selected."

He said private shipyards are also being encouraged to
participate in defence shipbuilding to meet the requirements
of Navy and the Coast Guard.

PTI



First Published: Monday, December 19, 2011 - 21:50

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