Indian MoD to Sign Contracts Worth $306 Million This Fiscal

The Indian MoD is likely to sign contracts valued at INR 2,039 crore ($306 million) during the current fiscal ending March 31, 2016.

The potential contracts include Phalcon AWACS aircraft, a C-130 special missions aircraft, 14 Akash anti-aircraft missile units, upgrade for medium helicopters, precision-guided munitions, recce pods for Su-30, armament suite for Dhruvs and radio sets, Tribune India reported.

Some key IAF procurements such as fighter aircraft, aerial refullers, and helicopters, and upgrade projects are likely to roll over to the next year due to paucity of funds.

Parliament’s Standing Committee of Defence, in its latest report, has listed out 10 contracts worth over Rs 6,728 crore that are unlikely to be signed this year. This includes procurement of 56 new aircraft to replace the ageing Avro transporter, 48 medium-lift helicopters, six mid-air refuelling tankers, 20 Hawk advance jet trainers and 38 Pilatus basic trainers.

The Indian Air Force’s wait for the much-needed KA-226 reconnaissance and surveillance helicopters, long-range surface-to-air missiles, engines for the Jaguar fighter, electronic warfare suite for the MiG 29 and avionics upgrade for IL-76/78 has also lengthened.