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India Spends Rs 2.40 Lakh Crore in Last Four Year on Defence Items

India has procured defence items worth Rs 2.40 lakh crore in the last four years by inking 187 contracts with foreign and domestics firms. Out of total, 119 contracts involving Rs. 1.17 lakh crore have been signed with Indian vendors while 68 procurement deals worth Rs. 1.24 lakh crore have been signed with foreign vendors. In the year 2014-15, it spend Rs 65,862 crore on capital acquisition, while in 2015-16 and 2016-17 it was Rs 62,235 crore and Rs 68,252 crore respectively. Also the value of defence production by Ordnance Factory Board and other Defence Public Sector Undertakings during 2014-15 was Rs 46,390 crore while it was Rs 52,960 crore in 2015-16. In 2016-17, the value of defence production by these government entities was Rs 55,890 crore.

http://pib.nic.in/PressReleseDetail.aspx?PRID=1515213

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