Indian Defence imports worth over Rs 37150 cr in last 3 yrs: Antony

[metalfalcon]

NEW DELHI: India has imported defence equipment worth Rs 37,150.17 crores in the last three years from countries like Russia, United States, Unite
d Kingdom, France, Germany and Israel.

Replying to question in Parliament today, Defence Minister A K Antony said, "Expenditure incurred on importing defence equipment was Rs 12,101.49 crore, Rs 10,022 crore and Rs 15,026.68 crore in 2005-06, 2006-07 and 2007-08 respectively. Russia, UK, USA, France, Germany and Israel were the major sources of these imports."

The Defence Minister said government was taking up various steps to indigenously manufacture these equipment and cut the expenditure on such imports. "Offsets policy has been rationalised to include offset credit banking to enable creation of offset programmes by foreign participants in anticipation of future obligations. Products developed by armed forces' workshops can be procured under 'Buy (Indian)' category," the Defence Minister stated.

He added that provisions like transfer of technology to Indian firms from foreign vendors were also there.
"Provision of transfer of technology to Indian firms for providing maintenance infrastructure was applicable when equipment was being procured from foreign vendors.

Procurement under 'Buy' category will have a minimum of 30 per cent indigenous content integrated by an Indian vendor," Antony said. He added that the country's expenditure on capital acquisition from indigenous sources was above 71 per cent in last three years.

Defence imports worth over Rs 37150 cr in last 3 yrs: Antony - Politics/Nation-News-The Economic Times

 

[metalfalcon]

I just Imagine what would have happened if India would have invested the same amount on Development ?

As a result Pakistan and many other Neighboring states will have to spend more on Arms instead of on Development.

 

[p2prada]

I just Imagine what would have happened if India would have invested the same amount on Development ?

India has a trillion dollar economy. We spend only around $25billion on the military, which provides employment to atleast 3 million soldiers directly and another 10 million indirectly.
The rest $975 billion can be spent on development. Thank you for your concern.