75% of defence capital budget is for domestic procurement: Rajnath

There were 266 partnerships and deals announced at Aero India, together worth around ₹80,000 cr, says the Defence Ministry

Updated - February 15, 2023 06:07 pm IST

Published - February 15, 2023 01:57 pm IST - Bengaluru

Union Defence Minister Rajnath Singh said the government will spend 75% of the total defence capital outlay for procurement from domestic defence manufacturers from 2023-24

Union Defence Minister Rajnath Singh said the government will spend 75% of the total defence capital outlay for procurement from domestic defence manufacturers from 2023-24 | Photo Credit: PTI

A record 75% or approximately ₹1 lakh crore of the defence capital procurement budget has been earmarked for domestic industry in the financial year 2023-24, up from 68% in the previous year, Defence Minister Rajnath Singh announced during the Bandhan ceremony at Aero India on Wednesday.

The Bandhan ceremony was the conclusion of 266 partnerships including 201 Memoranda of Understanding (MoU), 53 major announcements, nine product launches and three Transfers of Technology, together worth around ₹80,000 crore, according to a Defence Ministry statement.

The Ministry has been allocated a total Budget of ₹5.94 lakh crore for 2023-24, which is 13.18% of the total Union Budge. Out of this, the capital outlay pertaining to modernisation and infrastructure development is ₹1.63 lakh crore.

The products released at Aero India include a Vertically Launched Short Range Surface-to-Air Missile; Semi-Active Laser Seeker-based Anti-Tank Guided Missile for BMP-II infantry vehicles; Jishnu, a Drone Delivered Missile, which is a light weight and miniaturised missile for soft-skinned targets; software defined NAVIC/GPS receiver module based on indigenously-developed processors; indigenously-built Counter Drone Radar based on technology from the Defence Research and Development Organisation; 9 mm sub-sonic ammunition; BlueFire Touch, our Ground Control Station software; high frequency software defined radio; and a Goniometer which is part of an integrated observation and fire control monitoring system for artillery guns.

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