Rajya Sabha: Purchase proposals worth Rs 2.46 lakh crore approved for the armed forces in the last three years

Minister of State for Defense Ajay Bhatt said in the Rajya Sabha that the Central Government has approved 163 proposals worth Rs 2,46,989 crore under various categories of capital procurement for the Armed Forces in the last three years. The share of procurement from domestic companies is increasing, he said.

Emphasis on the purchase of indigenous defense products

Bhatt said that this approval was given under various categories of capital procurement to promote domestic manufacturing. He said that the government is emphasizing indigenization and procurement of defense products from domestic resources. The expenditure on defense procurement from foreign sources has come down from 46% to 36% in the last four years from 2018-19 to 2021-22. This year the target is 68 percent.

Defense imports decreased, but exports increased

Year             Import                         Export

2022-23              -                              6,058*

2021-22           50,061.68                   12,815

2020-21        53,118.58                     8,435

2019-20        47,961.47                     9,116

2018-19        45,705.57                     0,746

Also Read: Politics: Congress surrounds Foreign Minister Jaishankar's son on funding from China, Pawan Kheda makes serious allegations