Rs 2.12 lakh crore defence push gets DAC nod, 82% for Indian firms
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓The Defence Acquisition Council approved capital acquisition proposals worth Rs 2.12 lakh crore on October 26.
- ✓This move aims to boost defence modernisation for the armed forces.
- ✓The Ministry of Defence said that 82% of these procurements will come from Indian firms, supporting local industry through various new weapons and platforms.
Story at a Glance
- Category
- BUSINESS
- Reported By
- The Economic Times
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Synopsis
On October 26, the Defence Acquisition Council granted Acceptance of Necessity for various capital acquisition proposals. The total worth of these proposals is approximately Rs 2,12,000 crore for the armed forces. A significant portion, about 82%, will be sourced from the Indian industry to promote domestic procurement. The approved procurements encompass a diverse array of platforms and weapons for all three armed forces.
The Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, on October 26 accorded Acceptance of Necessity (AoN) to capital acquisition proposals worth about Rs 2,12,000 cr for the armed forces, giving a major push to defence modernisation and domestic procurement.
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The Economic Times
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