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96 deals worth Rs 85k cr signed with domestic defence firms in 3 yrs: Govt

58 contracts worth Rs 12,1563 crore have been signed with foreign vendors, says Subhash Bhamre

Press Trust of India  |  New Delhi 

96 deals worth Rs 85k cr signed with domestic defence firms in 3 yrs: Govt

Ninety-six contracts involving Rs 85,733 crore have been signed with Indian vendors for of for the armed forces in the last three financial years, the government said on Friday.

In response to a question, minister of state for defence also said that 58 contracts worth Rs 12,1563 crore have been signed with foreign vendors for the acquisition of in the same period.


Bhamre said foreign direct investment policy in defence sector has been gradually liberalised in the last two years to encourage defence indigenisation.

"Since defence projects involve long gestation period and investment inflow takes time even after the projects are approved and contracts awarded, there is always a time lag before the impact of is visible," he said.

Bhamre said the defence sector needs significant capital investment and infusion of technology for which foreign investment can play a critical role.

"The in the sector could be the most trusted route to technology transfer which would help in increasing the defence production base and providing the much needed impetus to self-reliance and indigenisation in defence sector," he said.

To a separate question, he said there is no proposal to privatise ordnance factories.

First Published: Fri, July 28 2017. 23:37 IST
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