India signed 162 contracts valued at $19 billion in last three yearsStaff writer ▼ | March 1, 2016
During the last three years 162 contracts with total value of $19.3 billion have been signed with Indian and foreign vendors for procurement of defense equipment.
Defense industry India is expanding its defense sector quickly
India signed contracts worth $6.4 billion in 2012-13, $3.4 billion in 2013-14 and $94 billion in 2014-15, defense Minister Shri Manohar Parrikar said in a reply to the Parliament, Defense World reports.
The 162 contracts include 95 contracts signed with Indian vendors and 67 with vendors from foreign countries, including Russia (18), USA (17), Israel (13), France (6) and others (13).
A Memorandum of understanding has been signed with the Government of France on January 25, 2016 for the purchase of 36 Rafale Aircraft. Price negotiation is underway.
During the last three years and current year, defense Cooperation agreements have been signed with Peru, Saudi Arabia, Japan, Sudan, USA, Kazakhstan, Turkmenistan, Kyrgyzstan, Singapore and Brunei. ■