Defence imports decline by Rs 10,990 cr in 2014-15

The expenditure on import of defence equipment in 2014-15 stood at Rs 24,992 crore, a decline of Rs 10,990 crore against the previous year, the government today said.
In a written response to a question in Rajya Sabha, Defence Minister Manohar Parrikar said the expenditure in respect of orders placed to foreign vendors for capital acquisitions in 2013-14 was Rs 35,082 crore, while the figure declined to Rs 24,992 crore in 2014-15.
SIPRI, a Stockholm-based think-tank, in its report last month had claimed India has yet again emerged as the world's largest importer of arms, with Russia being the top supplier garnering 70 per cent of the Indian market.

India's imports, accounting for 14 per cent of global arms imports, were three times greater than those of China and Pakistan, it said.
"The promotion of indigenisation and self-reliance in the defence sector is pursued under the Make in India initiatives of the government.
"A number of initiatives have already been taken to harness the potential in the public and private sector to meet the defence requirement of the country and boost indigenisation capabilities in the defence sector and facilitate progressive reduction in imports," Parrikar said.

He added the government has taken several measures in this regard which include giving priority and preference to procurement from Indian vendors, liberalisation of licensing regime and enabling of access to modern and state-of-the-art technology to Indian industry by raising the cap on FDI in the defence sector.

India procures defence equipment from numerous countries which include Russia, Israel, the US, France and the United Kingdom.
"However, even in cases where current operational exigencies necessitate import of defence equipment, efforts are made, wherever possible, to ensure the involvement of Indian industries as production agencies, offset partners, etc," Parrikar added.