Bangalore: Lok Sabha was recently informed that a sum of over 4,42,000 crores has been spent to get hold of defence equipment for the armed forces from Indian and foreign players in the past 10 years.

Answering a written query, Defence Minister, Antony says, "The total expenditure on defence purchases by India during the years from 2001-02 to 2010-11 (revenue and Capital) was Rs 4, 42,607 crores."

Taking into account the sensitive issues regarding the threats against terrorism, India is investing huge amounts of money to upgrade the armed forces, like recently signing deals worth billions of U.S. dollars for acquiring C-130J Super Hercules, C-17 Strategic Airlift Transport Aircraft and Hawk Advanced Jet Trainers.

Government is looking forward to spend another $100 billion to modernize the program of defence forces in order to obtain combat aircraft, armoured vehicles and artillery howitzers and ALSO upgrade existing inventory.

The procurements have been made from the Indian private sector, public sector undertakings, Ordanance Factories and foreign sources as mentioned by Antony.

Replying to a query on defence shipyards, M.M. Pallam Raju, Minister of State for Defence said, "Formation of joint ventures has been put on hold till formulation of suitable guidelines regarding the manner in which JV partner can be selected." He also mentioned that in regard to meet the necessities of the Navy and Coast Guard, private shipyards are not confident enough to participate in defence shipbuilding.