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Air Force, Navy, Army187 contracts, Rs 2.40 lakh crore: India’s defence spending in past 4 years

Air Force, Navy, Army187 contracts, Rs 2.40 lakh crore: India’s defence spending in past 4 years

India has spent Rs 2.40 lakh crore in the past four years, inking 187 contracts with foreign and domestic firms. The deals involved procurement of various military platforms and equipment. The same was conveyed in the Lok Sabha by Minister of State for Defence Subhash Bhamre. He went on to say that out of the 187 contracts, 119 were signed with Indian vendors – the total cost of which came up to Rs 1.62 lakh crore. In comparison, only 68 procurement deals worth Rs 1.24 lakh crore have been signed with foreign vendors. The value of total contracts signed in the last four years comes to Rs 2.40 lakh crore. He said the expenditure on the capital acquisition in 2014-15 was Rs 65,862 crore while the figures for 2015-16 and 2016-17 were Rs 62,235 crore and Rs 68,252 crore respectively. Bhamre said the value of defence production by Ordnance Factory Board and other defence public…

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Source: Air Force, Navy, Army187 contracts, Rs 2.40 lakh crore: India’s defence spending in past 4 years

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