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Govt. earns Rs 12.61 bn forex
August, 04th 2009

Government has garnered foreign exchange worth over Rs 12.61 billion from exporting defense items in the last three fiscals.

``During the last three years, a sum of Rs 12.61 billion has been earned in foreign exchange through export of defense items,`` said A K Antony, defense minister.

Further he said that Rs 84.98 billion was spent on procuring indigenous defense items in the three years and till June this year.

India had incurred an expenditure of Rs 259.06 billion in importing defense equipment from various countries. Navy had inducted INS Airavat warship in May this year, he added.

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