Defence Minister Rajnath Singh chairs a high-level assembly.
| Photo Credit: ANI
India on March 16 authorised the capital acquisition of indigenously-developed military hardware worth ₹70,584 crore as half of a mega procurement plan that’s anticipated to considerably increase home defence manufacturing.
The approval to the procurement proposals was accorded by the Defence Acquisition Council (DAC) chaired by Defence Minister Rajnath Singh, officers stated.
The go-ahead to the recent procurement proposals got here amid the practically three-year-long standoff alongside the Line of Actual Control in jap Ladakh with China.
The DAC accorded Acceptance of Necessity (AoN) for capital acquisition amounting to ₹70,584 crore and all of the procurement shall be made underneath the Buy (Indian-Indigenously Designed, Developed and Manufactured) class.
The whole approval granted for capital acquisition within the monetary 12 months 2022-23 now stands at ₹2,71,538 crore, of which 98.9% shall be sourced from Indian industries, the officers stated.
“Such quantum of indigenous procurement will not only galvanize the Indian industries towards achieving the goal of ‘Aatmanirbhar Bharat’ (self-reliant India) but also reduce India’s dependency on foreign vendors to a large extent,” Mr. Singh’s workplace tweeted.
