The Indian MoD is considering spending $233 billion over the next 11 years on new equipment, including warships, fighter jets, submarines, aircraft carrers and about 500 helicopters
The amount is projected as part of financial requirements for the long term integrated perspective plan (LTIPP) for the period 2012 to 2027, Tribune newspaper reported Tuesday.
Also, the MoD seeks an annual 8 per cent hike in existing capital spending that allocated in each year’s budget.
Under this new plan, the MoD has set a target for inducting 170 fighter jets for the IAF, 12 more submarines, 500 various types of helicopters, artillery guns and tanks for the Indian Army and indigenous sea-borne aircraft carrier meant for the Army, Navy and the Indian Air Force (IAF).
The capital spending for the present fiscal ending March 31, 2017 is approximately $12.69 billion. The entire planned hike for the next 11 years will average out to an annual spend of $20.27 billion.
The move comes after Defence Minister Manohar Parrikar has informed the Ministry to layout the financial cost of the military equipment acquisition planned and bring it ‘within sync’ of the existing average hikes possible in the Union Budget.
“An annual hike of 8 per cent for capital spending is within sync of the anticipated hikes that for now vary on a year-to-year basis,” Parrikar added.
The LTIPP lists out the required equipment but it lacks the detailed cost of each one. LTIPP already has a Technology Perspective Capability Road Map (TPCRM) to enable the Defence Research and Development Organisation (DRDO), the Defence Public Sector Unit and the private industry to plan their research and development.
The LTIPP has also laid down the expected provisions of the services and their outcome. Further, It enlists capabilites and expected time frames and weather these options can be achieved by indigenous development or by procurement from abroad. However, if targets form copters, submarines, fighter jets, warships and aircraft carrier, the plan is ‘Make in India’. Various joint ventures are being encouraged with foreign manufacturers.
The MoD has also laid a plan to cut unnecessary expenditure by combining together procurement of three services to prevent duplication of efforts and wasteful expenses.
Secret documents spreading over 22,000 pages relating to Indian Navys Scorpene submarine project involving French DCNS has been leaked. Marked “Restricted Scorpene India”, the DCNS documents detail the most sensitive combat capabilities of Indias new $US3 bn ($3
A proposal for Indias new Air Force Aerospace Museum was cleared by Ministry of Defence and final financial sanction on the Detailed Project Report is awaited. The new aerospace museum is planned to be set up close to the international airport in the national capital, Delhi and will be focused on aviation history, the ministry of defense said in a statement Monday
Indian Bhoj airports ground staff in Bhopal rushed to cover the cockpit of a Tejas light combat aircraft (LCA) on Tuesday to prevent water leakage into the plane. The fighter jet was one of the first two Tejas aircraft that were handed over to the Indian Air Force (IAF) for formation of the new ‘Flying Daggers 45 squadron
Taiwan Receives F-16 Fighter Jet Upgraded to Latest ‘Viper’ Standard
Germany Stops Arms Sales to Saudi Arabia Over Khashoggi Killing, Urges EU...
Ukrainian Army to Receive Vilkha Multiple Rocket System
Concerns Over South Korean KF-X Jet project As Indonesia Skips Milestone Payments
Two Belgian F-16 Fighter Jets Destroyed in Accidental Cannon Fire
China Reveals Hong-20, New-gen Stealth Bomber Program
Russian Future Semi-catamaran Aircraft Carrier gets New Design Concept
MD Helicopters wins Lebanese Contract for 6 armed MD 530G Choppers
Russian fifth generation fighter aircraft (FGFA) Su-57 will for the first time perform flights during the ARMY 2018 event near...
The American-made Patriot and Russian S-400 Triumf air defense systems are currently hogging international orders despite their price tags running...
The Russian ministry of defense on Thursday published a series of videos showcasing the production, deployment and installation and testing...
The market for fighter jets in countries which are expected to have open competitions is estimated at US$50 billion to...
The Indian MoD's plan to purchase 110 fighter jets may be its costliest fighter jet buy ever with the entire...
Indias plans of integrating the MBDAs meteor missile on its LCA Tejas and Su-30MKI aircraft may not happen due to...