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    Government approves Rs 12,980 crore corpus for insuring Indian ships at Hormuz

    Government approves Rs 12,980 crore corpus for insuring Indian ships at Hormuz

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MoD approves approximately Rs 45,000 crore capital acquisition proposals

By: APAC Media

by APAC Media
September 16, 2023
in News
Reading Time: 2 mins read
rajnath-singh
Summarize with:

New Delhi: Defence Minister Rajnath Singh, who chairs the Defence Acquisition Council (DAC), granted Acceptance of Necessity (AoN) for nine capital acquisition proposals worth approximately Rs 45,000 crore during a DAC meeting held on Friday.

Rajnath felt that these approvals marked a major stride toward achieving the goal of “Aatmanirbhar Bharat” as the DAC emphasised that all acquisitions would be sourced from Indian vendors under the Buy (Indian – Indigenously Designed Developed and Manufactured (IDDM)/Buy (Indian) category.

Among the approved acquisitions, the DAC gave the green light for the procurement of Light Armoured Multi-purpose Vehicles (LAMV) and the Integrated Surveillance and Targeting System (ISAT-S) to enhance protection, mobility, attack capability, and survivability for mechanised forces.

Separately, the DAC cleared proposals for High Mobility Vehicles (HMV) and Gun Towing Vehicles (GTVs) aimed at facilitating swift mobilisation and deployment of artillery guns and radars.

Additionally, the DAC approved the acquisition of Next Generation Survey Vessels (NGSVs) to enhance hydrographic operations capabilities.

Furthermore, the DAC accorded approval for Indian Air Force (IAF) operations, including avionic upgrades for Dornier Aircraft to enhance accuracy and reliability during operations.

The DAC green lit the procurement of the Dhruvastra Short Range Air-to-Surface Missile (SR-SAR), serving as a potent indigenous Precision Guided Weapon (PGW) for the indigenous Dhruv ALH Mk-IV helicopters.

The DAC also approved the acquisition of 12 Sukhoi-30 MKI aircraft along with associated equipment from Hindustan Aeronautics Limited (HAL).

During the meeting, Defence Minister Rajnath Singh emphasised the need to elevate indigenisation targets. “Rather than a threshold of 50 per cent indigenous content for IDDM projects, we should aim for a minimum 60-65 per cent indigenous content,” he said.

These decisions reflect a significant step towards strengthening India’s defence capabilities, promoting indigenous manufacturing, and advancing the vision of a self-reliant India in the defence sector.

Summarize with:
Tags: Aatmanirbhar BharatAatmanirbhar Bharat in DefenceAcceptance of NecessityDACDefence Acquisition CouncilDefence MinisterDefence Minister Rajnath SinghDhruvastraDornier AircraftHindustan Aeronautics LimitedIndian Air Force
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