HomeAatmanirbhar Bharat in DefencePercentage of Capital Expenditure on Import by Armed Forces on decline in...

Percentage of Capital Expenditure on Import by Armed Forces on decline in last 3 yrs: Govt data

Source : Press Trust of India (PTI)


Percentage of capital expenditure on import by armed forces on decline in last 3 yrs: Govt data
Representative Image




New Delhi: The percentage of capital expenditure incurred by the armed forces for the import of equipment and military hardware witnessed a steady decline in the last three years, data provided by the government in Lok Sabha on Friday showed.

According to the details furnished by Defence Minister Rajnath Singh, the armed forces spent ₹38,156 crore on importing military hardware in 2019-20 which was 41.89 per cent of the total capital procurement.

In 2020-21, the capital expenditure on imports was ₹42,786 crore but the percentage came down to 36 compared to the overall procurement of hardware.

The capital expenditure on imports in 2021-22 was ₹39,650 crore and it was 35.28 per cent of total procurement.

Mr Singh said India’s defence exports have grown eightfold in the last six years — from ₹1521 crore in 2016-17 to ₹12,815 crore in 2021-22.

“The major contribution in this growth has come from the private sector. During 2021-22, the private sector has contributed almost 70 per cent of the total exports.

According to the details provided by Singh, contribution of the private sector in India’s defence exports in 2016-17 was ₹194 crore while the total value of exports was ₹1,521 crore.

In 2017-18, the value of India’s total exports was ₹4,682 crore including ₹3,163 crore worth of exports by the private sector.

The contribution of the private industries went up to ₹9,813 crore in 2018-19 while the total volume was ₹10,746 crore.

In 2019-20, the total exports were valued at ₹9,116 crore out of which ₹8,008 crore was from the private sector.

The volume of exports in 2020-21 was ₹8,435 crore which included the contribution of ₹7,271 crore by the private industries.

The total defence exports went up to ₹12,815 crore in 2021-22 out of which ₹8,800 crore was contributed by the private sector, the details furnished by Singh showed.

“About 80 countries import Indian defence equipment, sub-systems, parts and components. However, the names of the countries cannot be divulged due to strategic reasons,” Singh said.

The government has initiated a series of measures in the last few years to boost domestic defence manufacturing.

India is one of the largest importers of arms globally. According to estimates, the Indian armed forces are projected to spend around $130 billion in capital procurement in the next five years.

The government now wants to reduce dependence on imported military platforms.

The defence ministry has set a goal of a turnover of $25 billion (₹1.75 lakh crore) in defence manufacturing in the next five years that included an export target of $5 billion worth of military hardware.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Aatmanirbhar Bharat

All

US Senator’s Bill proposes limited exemption for India under Caatsa

US Republican Senator Marco Rubio has introduced a bill that provides a limited exemption for India from Countering America's Adversaries Through Sanctions Act for...

Defence building light tank for Army, first prototype realised: Govt on Proj ‘Zorawar’

New Delhi: The defence ministry is working on developing a light tank for the Indian Army for deployment at high-altitude area of the country,...

AMCA 5th Generation Stealth Fighter Updates

AMCA to be integrated with sophisticated indigenous Distributed Aperture System (DAS) that making it a formidable air asset for the Indian Air Force

Source : IgMp Bureau India’s Advanced Medium Combat Aircraft (AMCA) is on the brink of a revolutionary transformation with the integration of a sophisticated Distributed...

AMCA to incorporate the best features of both 5th and 6th Generation fighters: ADA sources

Source : IgMp Bureau India's strides toward indigenous air dominance receive a substantial boost with the green signal for the Advanced Medium Combat Aircraft (AMCA)...

Most Popular

Recent Comments

Archive Months

Miscellanous

Malaysia asks Korean Aerospace Industries to reduce the price of FA-50 to $43 million per unit, the same price offered by HAL for LCA...

Source : Indian Defence Updates (IDU)Representative ImageThe Royal Malaysian Air Force (RMAF) had selected the Korean FA-50 which was quoted by Korean Aerospace Industries...

US China: US sanctions 3 Chinese firms and one from Belarus for providing ballistic missile components to Pakistan

The US has imposed sanctions on three China-based companies and one from Belarus for supplying missile-applicable items for Pakistan's ballistic missile programme, including its...

India requires to open multiple channels to safeguard Myanmar interests

India continues to enjoy an amicable partnership with the military junta in Myanmar but it faces evolving challenges in the region, with China making...

India to deploy DRDO D4 Anti-Drone system on the western border with Pakistan

Source : SSB Crack Exams The DRDO’s D4 Drone System has been undergoing extensive trials across the country and will soon enter mass production for deployment...
Visits
error: Content is protected !!