India earns US$266mn in defence exports

NEW DELHI, Aug 4 Asia Pulse – The Indian government on
Monday said foreign exchange worth over Rs 12.61 billion
(US$266 million) was earned by exporting defence items in the
last three fiscal years. “During the last three years, a sum of Rs 12.61 billion has
been earned in foreign exchange through export of defence
items,” Defence Minister A K Antony said in reply to a Lok
Sabha (Lower House) query.

Replying to another query, the Minister said Rs 84.98
billion was spent on procuring indigenous defence items in the
three years and till June this year.

Antony said the country had incurred an expenditure of Rs
259.06 billion in importing defence equipment from various
countries.

The Minister further said Navy had inducted an INS Airavat
warship in May this year. (PTI)