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

Feb 06 2013, 00:14 IST
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SummaryThis is something people find hard to believe.

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.

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