Defence Ministry approves capital acquisition proposal worth Rs 13,700 cr for armed forces
New Delhi [India], February 23 (ANI): The Defence Acquisition Council (DAC) has approved capital acquisition proposals for weapons, platforms, equipment and systems required by the armed forces worth Rs 13,700 crores.
As per a statement from the Ministry of Defence, these acquisition proposals will be indigenously designed, developed and manufactured.
"The DAC, under the chairmanship of Raksha Mantri Rajnath Singh, has approved capital acquisition proposals of various weapons/platforms/equipment/systems required by the Army, Navy and Air Force," the statement said.
"Three Acceptance of Necessities (AoNs) for an overall cost of Rs 13,700 crores were accorded. All these AoNs are in the highest priority category of Defence Acquisition viz 'Buy [Indian-IDDM (Indigenously Designed, Developed and Manufactured)]," it added.
The proposals will include inter-alia platforms and systems designed and developed by the Defence Research and Development Organisation (DRDO).
The statement further informed that the DAC has also approved that all capital acquisition contracts (delegated and non-delegated) other than D&D cases will be concluded in two years in order to meet the Government's Atmanirbhar Bharat goals on the time-bound defence procurement process.
The Ministry, in consultation with the services and all stakeholders, will come up with a detailed plan of action for achieving the same. (ANI)
