Monday, April 26, 2010

Defence goods worth Rs. 20,000 crore made in the last three years


Amidst the discussions on the further investments in the upgradation ofmachineries as far as Indian defence industry was concerned and also hiking the limit for the FDI in the industry, the Government has recently confirmed the fact that Ordnance Factory Board (OFB) has produced defence goods worth over a whopping Rs. 20,560 crore in the past three yearsfor the Indian defence personnel.
Minister of State for Defence, M M Pallam Raju has recently shared the fact that the OFB has made goods worth over Rs. 20,000 crore in the past three years and keeping in mind the increased requirements of the Army and the Home Ministry, the OFB needs to look at increasing the current production levels.

According to the planned investments in the 11th and 12th Plan period, the money earmarked for the up-gradation of machineries at the OFB if to the tune of Rs. 3,807.5 crores.
In fact, it may be noted here that companies like French Thales, British BAE Systems, Israeli Elta along with three Mauritian companies have invested over Rs. 400 million in the Indian Defence sector with the investments coming in as FDI.

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