Defence Ministry approves procurement of military hardware worth Rs 13,165 crore

The defence ministry on Wednesday approved the procurement of military platforms and hardware worth Rs 13,165 crore that includes 25 indigenously-developed ALH Mark-III helicopters. The cost of acquiring the helicopters has been estimated at Rs 3,850 crore, while a batch of rocket ammunition will be procured for Rs 4,962 crore, the defence ministry said.

The procurement proposals were approved at a meeting of the Defence Acquisition Council (DAC) that was chaired by Defence Minister Rajnath Singh.

Out of the total procurements, equipment and platforms worth Rs 11,486 crore will be sourced from domestic entities.

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

“Of the total amount approved, procurement worth Rs 11,486 crore (87 percent) is from the domestic sources,” the ministry said in a statement.

In addition, the DAC also approved a few amendments to the Defence Acquisition Procedure 2020 as a part of “business process re-engineering to ensure further ease of doing business for the industry as well as measures to enhance procurement efficiency and reducing timelines”, the ministry said.

(Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

Note: This article have been indexed to our site. We do not claim ownership or copyright of any of the content above. To see the article at original source Click Here

Related Posts
Group of lithium miners create a global association thumbnail

Group of lithium miners create a global association

Asociación Internacional del Litio Mineras que representan más de la mitad de la producción global de litio han creado una asociación mundial, con sede en Londres, para hablar en nombre de un sector en rápido crecimiento que es clave para cumplir los objetivos de la transición energética. Reuters 30 de septiembre de 2021, 12:38 Mineras…
Read More
Demand for corporate travel returning gradually, says IndiGo thumbnail

Demand for corporate travel returning gradually, says IndiGo

Budget carrier IndiGo, which turned profitable in the December quarter on the back of higher passenger volumes, on Friday said the demand for corporate travel is returning gradually. "We are saw a recovery of almost 70 per cent of the recovery in corporate travel in December. But due to the third wave of the pandemic,…
Read More
Swissquote Supports Launch of Unicorn-Focused Product for Retail Investors thumbnail

Swissquote Supports Launch of Unicorn-Focused Product for Retail Investors

Swissquote has entered into partnership with Stableton, an investment firm that specializes in private markets, for the launch of a bankable active managed certificate (ACM) for retail investors in Switzerland. The ACM seeks to broadly reflect the 20 largest unicorn companies in the world listed by global index provider Morningstar's unicorn benchmark. ACM is a
Read More
Bitcoin Price Signals Bearish Continuation But Bears Losing Strength thumbnail

Bitcoin Price Signals Bearish Continuation But Bears Losing Strength

Bitcoin price is struggling to recover above the $26,500 level. BTC could gain bearish momentum if there is a move below the $25,600 support. Bitcoin is struggling to recover above the $26,500 resistance zone. The price is trading below $26,400 and the 100 hourly Simple moving average. There was a break below a connecting bullish
Read More
Wall Street banks cautious on inflation and economy thumbnail

Wall Street banks cautious on inflation and economy

© Reuters. FILE PHOTO: A woman wears a mask near the New York Stock Exchange (NYSE) in the Financial District in New York, U.S., March 4, 2020. REUTERS/Brendan McDermid/File Photo By Matt Scuffham, Noor Zainab Hussain and Elizabeth Dilts Marshall NEW YORK (Reuters) -Wall Street's biggest banks sounded a warning over the year ahead on…
Read More
Leadership Training Shouldn’t Just Be for Top Performers thumbnail

Leadership Training Shouldn’t Just Be for Top Performers

When it comes to leadership development, the business case for investing in the “best” given limited organizational resources appears straightforward: Individuals who have a demonstrated track record of success deserve to be recognized, right? They also seem like sure bets who will benefit the most from development opportunities because they have the requisite experience and…
Read More
Index Of News
Consider making some contribution to keep us going. We are donation based team who works to bring the best content to the readers. Every donation matters.
Donate Now

Subscription Form

Liking our Index Of News so far? Would you like to subscribe to receive news updates daily?

Total
0
Share