text: In 5 years 70% military equipment to be Made in India – Manohar Parrikar
  
  Pushing for indigenization, Defence Minister Manohar Parrikar has stated that by reducing imports by just 10 percent each year, 70 percent of the country’s military hardware production in 5 years would be Made in India.
  
  Currently the country imports to indigenous parts ratio in manufacturing and operating military hardware is 70:30.
  
  “By next year that should change by at least 10 percent and in 5 years the ratio could be reversed to 30:70 in favour of boosting manufacturing in India,” said Parrikar.
  
  He noted that changing mindsets was not easy but the priority was for Make in India, indigenization and reducing dependence on foreign sources for production of military hardware.
  
  The Defence Minister put it on record that of the about Rs 90,000 crore ($ 13.5 billion) worth of defence contracts signed in past one year, nearly 70 percent of them fell in the Buy Indian or Buy and Make in India category.
  
  India remains one of the worlds largest importer of defence equipment, with the Stockholm based International Peace Research Institute tabulating that between 2010 and 2014, our country imported 15% of global arms sales made.