66% of IAF contracts went to Indian companies: Air Chief

The transformation process of the Indian Air Force into a multi spectrum force has in the last five years seen aerospace contracts worth Rs 1.52 lakh crore handed out to companies, including Rs 84,000 crore to indigenous companies, Chief of Air Staff Air Chief Marshal N A K Browne said at the opening of the plenary session of Aero India seminar.

"In the 11th plan itself the IAF signed 325 capital contracts and the volume of these contracts was Rs 1.52 lakh crore which in dollar terms works out to $ 28.5 billion. Interestingly enough, about $ 15.5 billion of this amount translated into 217 contracts or Rs 84,000 crore that went to Indian companies. This is something people find hard to believe. So, 66 per cent of the volume of contracts that the IAF signed was with our indigenous industries,'' he said. "We have plans for going in for 350- 400 aircraft in the 12th plan...In our view what is going to propel us forward in order to make the IAF a reckonable military power is that we have to stop importing and start doing things more indigenously," he said.

Please read our terms of use before posting comments
TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).
comments powered by Disqus