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01:00 PM, November 23, 2016
India Signed 15 Defense Contracts Worth $10.5 Billion This Year
Signing of Rafale fighter aircraft deal earlier this year (File Photo)

India has signed 15 contract with value of 71953.60 crore ($10.5 billion) with foreign vendors for the procurement of various defense equipment that include aircraft, missiles and ammunition during the current financial year (up to October, 2016).

During 2015-16, 17 contracts with value of Rs. 29171.75 crore ($4.2 billion) have been signed with foreign vendors including those from USA, Russia, Israel, Sweden, UK and Germany for Capital procurement of Defence equipment such as rockets, simulators, aircraft, helicopters, ammunition and radars, Minister of State for Defence Subhash Bhamre said in a statement in the Parliament Tuesday.

The contracts with foreign vendors include those from France, USA, Russia, Israel, UK, and Germany for Capital procurement of various Defence equipment.

The contracts include 36 Rafale fighter jets from French Dassault Aviation for $8.2 billion . India signed various defense deals with Russia at Brics summit 2016 in October, including the one to buy US$5 billion worth S-400 Triumf anti aircraft weapon system.

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