India saw jump in spending on military imports in 5 years

In DEFENCE, DEFENCE INDUSTRY, LATEST NEWS

India’s plans on making military equipment on its own have two-pronged story. While orders to the domestic industry and defence public sector undertakings have grown, the import of equipment has also grown in the past five years.

Import of military equipment for the Army, IAF and the Navy has been to the tune of Rs 42,974 crore or nearly $6 billion for the financial year ending March 31, 2019. The import was Rs 29,222 crore or $4.18 billion for the year ending March 2015. These are actual payments that have been made during a fiscal.

The Defence Ministry informed the Rajya Sabha about the spending on foreign sources in a written reply on November 25. The figures are based on the data received from the Comptroller General Defence Accounts (CGDA), the ministry said in its reply. Read More

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