Defense Orders Worth $ 2.1 Billion Executed in 2015: Manohar Parrikar
India’s Defence Minister Manohar Parrikar announced Monday at DefExpo 2016 that over INR 1,40,000 crore (US$ 2.1 billion) worth orders have been executed in the previous fiscal 2015.
Minister said in a press conference that over INR 44,000 crore (US$ 6.6 billion) worth orders are in the final stage of execution and the rest INR 90,000 crore (US$ 13.5 billion) worth orders are in Contract Negotiation Committee (CNC) stage.
The minister said the orders worth INR 2,20,000 Crore (US$ 33 billion) could be finalized by this year.
To a query on the purchase of Rafale jets, Minister added that the government will not define a timeline on the finalization but its hoping to get the best deal sooner.
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