Indian Domestic Defense Vendors Bagged 62 Per Cent Contracts In 2014-15

  • Our Bureau
  • 07:23 AM, December 9, 2015
  • 1564

Indian defense vendors bagged about 62 per cent of INR 65,591 crore (US $9.8 billion) contracts in 2014-15.

"The expenditure on capital acquisition in respect of order placed on Indian vendors and foreign vendors for the period 2014-15 was Rs 40,589.98 crore (US $6 billion) (61.89 per cent) and Rs 24,992.36 crore (US $3.7 billion) (38.11 per cent), respectively," Rao Inderjit Singh, Minister of State for Defence, said in written response to a question in the Upper House of the Parliament Tuesday.

During 2014-15 and the current year, contracts have been signed with foreign vendors for capital procurement of defence equipment such as missiles, simulators, helicopters, rockets and guns, the minister added.

Information related to employment of Indians in such projects is not maintained by the department, he said.

The minister said capital procurement of defence equipment is guided by Defence Procurement Procedure (DPP) and the timelines given therein. The timelines are specifically prescribed in each contract. 

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