Indian Armed Forces to spend $130 Bn in capital procurement in the next 5 years

According to estimates, the Indian Armed Forces are projected to spend around USD 130 billion (Approx. Rs. 9, 62,000 Crores) in capital procurement in the next five years.

The plan includes procurement of a range of weapons, missiles, air defence systems, fighter jets, submarines and warships, drones, surveillance equipment and developing infrastructure for extensive use of artificial intelligence.

Some of the key procurement programs that are likely to be concluded include:

  • Light-weight tanks for the Indian Army
  • Multi Role Fighter Aircraft (MRFA) for the Indian Air Force
  • Naval Utility Helicopters for the Indian Navy
  • Advanced Medium Combat Aircraft (AMCA) for the Indian Armed Forces
  • Naval Anti-ship missiles
  • P75 (India) Submarine for the Indian Navy
  • Future Infantry Combat Vehicle (FICV)for the Indian Army
  • Future Ready Combat Vehicle (FRCV) for the Indian Army
  • Fire & Forget ATGMS along with Launcher Systems Adapted On BMP-2/2K for the Indian Army
  • Mounted Gun System for the Indian Army
  • Long-Range Guided Bombs for the Indian Air Force
  • High Endurance Autonomous Vehicles for the Indian Navy

Noteworthy, the Indian Government now wants to reduce dependence on imported military platforms, and so most of the future military procurement would be under ‘Make in India” initiative.

Further, the Indian Defence Ministry has set a goal of a turnover of USD 25 billion (Rs 1.75 lakh crore) in defence manufacturing in the next five years that included an export target of USD 5 billion worth of military hardware.

Source: Open Source and PIB