As per Stockholm International Peace Research Institute, India’s military expenditure for the years 2020 and 2021 is as under:
(in current US $ million)
| 2020 | 2021 | Increase in the year 2021 over 2020 |
| 72,937.10 | 76,598.00 | 3660.90 (5.02%) |
The increase in defence spending in the year 2021 over 2020 is attributable to the requirement of funds projected by the Services and the availability of resources with the Government.
Details of the import and export of defence equipment during the last three years are as under:
- Major Export: Coastal Surveillance System, Light Weight Torpedo, DO-228 Aircraft, Aircraft Towing Tractor, Weapon Locating Radar, Fast Patrol Vessel (FPV) ‘SCGS Zoroaster’, Equipment 120mm Mortar Bomb 120 mm HE, Motor Grader BG605l and Bulldozer 65-1 and Spares, Fire Control System, Armoured Protection Vehicle, Diesel 6×6 Base Vehicle, Mine protected Ambulance Vehicle, High-Speed Guard Boat, Armoured Light Specialist Vehicle (6Nos.), Mine Protected Vehicle Right Hand Drive 4×4, 7.62x51mm Sniper Rifle & 0.338 Lapua Magnum Sniper Rifle, Simulator etc.
- Major Import: Jammer, Radar, Doppler Radar, THeMIS UGV, LOITERING MUNITIONS SYSTEM, UAV, NIGHT VISION IMAGING SYSTEM, Armoured Vehicle, Airport Surveillance Radars (ASR), CLOSE-IN WEAPON SYSTEM, C-Block-Jamming System, 7.62x51mm ARSENAL Machine Gun, Ground Support Missile Test Equipment etc.
Department of Defence Production (DDP), Ministry of Defence grants import licences to provide companies for the import of items covered under 69 ITC(HS) Codes under the powers delegated by DGFT to DDP.
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