India spent Rs 15,433.01 cr on defence in 2010-11
30 April 2012 6:46 PM GMT
India spent Rs 15,443.01 crore during 2010-11 to import arms and ammunition, marking an increase of Rs 5,266.93 crore versus defence expenditure in 2007-08, the government said today.
In written reply to a question in Lok Sabha, Defence Minister A K 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 to Rs 13,411.91 crore in 2009-10. During 2010-11, the expenditure touched Rs 15,443.01 crore.
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. The government announced the 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, Antony said.
Replying to questions on the recently-held Defence Expo, Antony informed that 29 foreign countries including USA, UK, Canada, Poland, Turkey, Czech Republic, Italy, Israel, Russia, Germany, France, Republic of Korea, South Africa, Hungary and Greece had participated in the four day-long exhibition.
Participation of certain foreign companies in Defexpo 2012 was turned down due to absence of necessary clearances. 63 foreign official delegations from 58 countries visited the Defexpo.
In written reply to a question in Lok Sabha, Defence Minister A K 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 to Rs 13,411.91 crore in 2009-10. During 2010-11, the expenditure touched Rs 15,443.01 crore.
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. The government announced the 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, Antony said.
Replying to questions on the recently-held Defence Expo, Antony informed that 29 foreign countries including USA, UK, Canada, Poland, Turkey, Czech Republic, Italy, Israel, Russia, Germany, France, Republic of Korea, South Africa, Hungary and Greece had participated in the four day-long exhibition.
Participation of certain foreign companies in Defexpo 2012 was turned down due to absence of necessary clearances. 63 foreign official delegations from 58 countries visited the Defexpo.
Next Story
