Recently, the central government had expressed its intention to rid the three armies of India (the Navy, the Army and the Air Force) from foreign weapons. The government wants India to become self-reliant in the production of defense equipment. Make in India should be promoted. Now taking a step in this direction, the government is going to bring 114 new fighter jets for the Indian Air Force. Keeping in mind the resolve of ‘Atmanirbhar Bharat’, it has been decided that out of 114 fighter jets, 96 will be made in India, remaining 18 will be imported from foreign vendors.
According to media reports, recently the Indian Air Force has held a meeting with foreign vendors and asked them to manufacture fighter jets in India. This entire project will be completed under ‘Buy Global and Make in India’. It is being told that with the completion of this project, the capability of the Air Force will not only increase, as well as the old MiG series aircraft can also be replaced.
payment in Indian currency
18 fighter jets will be imported from abroad, which will be paid in foreign currency only. But the 96 fighter jets to be built in the country will not be paid only in foreign currency. It is reported that for 36 fighter jets out of 96, the Government of India will pay the manufacturing company in foreign currency as well as in Indian currency. The last 60 aircraft will be the main responsibility of the Indian partner, which will be paid by the government in Indian currency only.
The Indian Air Force may soon float a tender for this project. It is expected that foreign companies like Boeing, Lockheed Martin, Saab, MiG, Irkut Corporation and Dassault Aviation will participate in this tender.
Defense budget was extended
The defense budget for the financial year 2022-23 was increased by 10 percent. The Defense Ministry was then allocated Rs 525,166.15 crore. This was the biggest increase in the defense budget in recent years. In the financial year 2021-22, an allocation of Rs 478,196 crore was made to the Ministry of Defense.