Defence Ministry approves proposals worth Rs 4,276-cr
A meeting of the Defence Acquisition Council was held on Tuesday headed by Defence Minister Rajnath Singh.
A meeting of the Defence Acquisition Council was held on Tuesday headed by Defence Minister Rajnath Singh.
Defence minister Rajnath Singh gave Acceptance of Necessity (AoN) for capital acquisitions proposals for modernization and operational needs of the armed forces worth about Rs 13,165 crore.
The submarines are likely to be equipped with land attack missiles and anti-ship cruise missiles.
With the new Foreign Direct Investment policy announced, DAP 2020 has adequately included provisions to encourage FDI to establish manufacturing hubs both for import substitution and exports while protecting interests of the Indian domestic industry.
The DAC presided over by Defence Minister Nirmala Sitharaman, also approved the acquisition of approximately 5,000 Milan anti-tank guided missiles for the Army.
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A meeting of the Defence Acquisition Council (DAC), the ministry's highest decision-making body on procurement, cleared the proposals
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