The Defense Acquisition Board (DAC) on Tuesday approved proposals to acquire capital to the tune of Rs 13,700 crore for various requirements of the Indian armed forces.
These acquisitions would include weapons, platforms, equipment and systems for the military, air force and navy, according to a statement from the Ministry of Defense.
“Three acceptances of necessities (AoN) for a total cost of Rs 13,700 crore have been granted. All of these AoNs are in the highest priority defense procurement category, ”the statement said.
All of these acquisition proposals, the ministry said, will be designed, developed and manufactured locally. These will include platforms and systems designed and developed by the Defense Research and Development Organization (DRDO).
“To achieve the government’s Atmanirbhar Bharat goals of time-bound defense procurement process and faster decision-making and to work systematically to reduce the time needed to acquire capital, the DAC has also approved that all capital acquisition contracts (delegated and non-delegated) business other than D&D are concluded within two years. The ministry, in consultation with the Services and all stakeholders, will develop a detailed action plan to achieve this, ”the statement said.
Pushing for self-sufficiency in the defense sector, Prime Minister Narendra Modi said on Monday that the government had taken steps to move forward in the sector with “transparency, predictability and ease of doing business.” He said the government has taken steps to obtain the removal of licenses, deregulation, export promotion, liberalization of foreign investment, etc.
The Prime Minister said this during the keynote address during a “ Webinar on Budget Announcements 2021-2022: Galvanizing Efforts for Atmanirbhar Bharat ”.
The webinar was also addressed by Defense Minister Rajnath Singh, who said the government is actively promoting not only domestic manufacturing but also an export-oriented defense industry.
Singh listed the number of initiatives taken by the government to promote the manufacturing of national defense. He shed light on plans to spend $ 130 billion on military modernization over the next five years.
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