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Wednesday, October 27, 2021

Nw: India's defense ministry approves procurement of armed forces hardware worth $1.7 billion

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The defense ministry on Wednesday authorized the procurement of armed forces platforms and hardware worth Rs 13,165 crore (approximately $1.77 billion) that comprises 25 indigenously-developed ALH Imprint-III helicopters.

The procurement proposals were authorized at a assembly of the Defense Acquisition Council (DAC) that was chaired by India’s defense minister Rajnath Singh. Out of the full procurements, tools and platforms worth Rs 11,486 crore (approximately $1.54 billion) will likely be sourced from domestic entities.

“The DAC accorded Acceptance of Necessity (AoN) for capital acquisitions proposals for modernization and operational wants of the Indian Armed Forces amounting to approximately Rs 13,165 crore.

“Of the full quantity authorized, procurement worth Rs 11,486 crore (87 per cent) is from the domestic sources,” the ministry said in an announcement.

In addition, the DAC also authorized about an amendments to the Defense Acquisition Activity 2020 as a component of “change activity re-engineering to make certain that extra ease of doing change for the industry as correctly as measures to help procurement efficiency and reducing timelines”, the ministry said.

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