Lankan Ranger
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India purchased $30 billion worth defence equipment in last four years
India has made defence purchases worth a whopping INR 144,9118.0 Million (US$30 billion approx) during a four year period starting fiscal 2007-08 and ending fiscal 2010-11.
According to Defence Minister A. K. Antony, total purchases which stood at INR 281,591.6 Million in 2007-08 rose to INR 468,875.6 Million in 2010-11, a rise of nearly 80% in four years.
Antony stated in a reply given in the Indian Parliament that procurement from indigenous companies exceeded that of direct procurement from international companies. Adding up the year-wise figures provided by the minister, indigenous procurement stood at INR 957,058.5 Million while procurement from foreign sources amounted to INR 422,059.5 Million during the four year period.
The year 2010-11 also marked a reversal in the trend of allocations Vs spending. While in earlier years, defence procurement spending was below allocated amount, in that year, the Indian MoD overspent to the extent of INR 4865 Million above the budgetary allocation.
http://www.defenseworld.net/go/defensenews.jsp?id=6282&h=India%20purchased%20$30%20billion%20worth%20defence%20equipment%20in%20last%20four%20years:%20Minister
India has made defence purchases worth a whopping INR 144,9118.0 Million (US$30 billion approx) during a four year period starting fiscal 2007-08 and ending fiscal 2010-11.
According to Defence Minister A. K. Antony, total purchases which stood at INR 281,591.6 Million in 2007-08 rose to INR 468,875.6 Million in 2010-11, a rise of nearly 80% in four years.
Antony stated in a reply given in the Indian Parliament that procurement from indigenous companies exceeded that of direct procurement from international companies. Adding up the year-wise figures provided by the minister, indigenous procurement stood at INR 957,058.5 Million while procurement from foreign sources amounted to INR 422,059.5 Million during the four year period.
The year 2010-11 also marked a reversal in the trend of allocations Vs spending. While in earlier years, defence procurement spending was below allocated amount, in that year, the Indian MoD overspent to the extent of INR 4865 Million above the budgetary allocation.
http://www.defenseworld.net/go/defensenews.jsp?id=6282&h=India%20purchased%20$30%20billion%20worth%20defence%20equipment%20in%20last%20four%20years:%20Minister