India spent Rs 15,433.01 cr in 2010-11 on defence
New Delhi: India spent Rs 15,443.01 crore during 2010-11 to import arms and ammunition marking an increase of Rs 5,266.93 crore as against the defence expenditure in 2007-08, the government said on Monday.
In written reply to a question in Lok Sabha, Defence Minister AK Antony said, "The Stockholm international Peace Research Institute (SIPRI) has reported 38 per cent increase in the value of arms imported by India during 2007-11 as compared to 2002-06."
Tabling a report on year-wise expenditure on foreign procurement of arms, he said, Rs 10,166.08 crore was spent in 2007-08, which rose up to Rs 13,411.91 crore in 2009-10. During 2010-11, the expenditure touched the Rs 15,443.01 crore mark.
Acquisition of defence equipment both from foreign as well as indigenous sources is in accordance with the modernisation programme of armed forces such as Long Term Integrated Perspective Plan (LTIPP), Five Year Services Capital Acquisition Plan (SCAP) and Annual Acquisition Plans (AAPs), Antony said.
"With a view to achieve greater self-reliance in Defence production, the defence industry was opened up for Indian private sector participation in 2011 with Foreign Direct Investment (FDI) permissible upto 26 per cent," he said, adding that government has announced Defence Production Policy (DPP) in January last year.
For acquisition of Rs 300 crore or more, the government has imposed an obligation of 30 per cent offset clause, he said.
Replying to questions on recently held Defence Expo, Antony said, 29 foreign countries including USA, UK, Canada, Poland, Turkey, Czech Republic, Italy, Israel, Russia, Germany, France, Republic of Korea, South Africa, Hungary, Greece etc participated in the four day-long exhibition.
"Participation of certain foreign companies in Defexpo 2012 was turned down in absence of necessary clearances...63 foreign official delegations from 58 countries visited the Defexpo," he said.
More from India
More from World
More from Sports
More from Entertaiment
- Jamaat-e-Islami chief announces Rs 100 cr reward for PM Modi's arrest
- DNA: Captain Saurabh Kalia's torture at the hands of Pakistani Army
- DNA: Govt tests Maggi noodle samples from all states
- Zee Media exclusive interview with victim of Uber molestation
- Jamaat-e-Islami chief announces Rs 1 billion reward for PM Modi's arrest
- Assam Board (seba.net.in & resultsassam.nic.in): SEBA HSLC / AHM class 10th Results 2015 to be announced today
- Was asked to call Sunanda Pushkar’s death `natural`: AIIMS doctor
- Maggi row: Delhi registers case against Nestle, Kerala withdraws stock from govt stores
- From being the ‘Dabangg’ girl to ‘Akira’ - Sonakshi Sinha’s journey so far
- China ship carrying 458 on board sinks in Yangtze River: Five dead, hundreds missing