Rs 76,390 Crore Military Equipment To Be Procured From Domestic Industry
NDTV
For the Indian Navy, the DAC accorded approval for the procurement of next generation corvettes at a cost of around Rs 36,000 crore.It also approved a proposal for the manufacture of Dornier aircraft and Su-30 MKI aero-engines.
In a significant move, the defence ministry on Monday approved the procurement of military equipment and platforms worth Rs 76,390 crore from domestic industries.
The procurement proposals were approved by the Defence Acquisition Council (DAC) headed by Defence Minister Rajnath Singh, the ministry said.
For the Indian Navy, the DAC accorded approval for the procurement of next generation corvettes (NGCs) at an estimated cost of around Rs 36,000 crore, it said.
These NGCs will be versatile platforms for a variety of roles namely surveillance missions, escort operations, deterrence, Surface Action Group (SAG) operations, search and attack and coastal defence.