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India approves Rs 1.1 lakh crore in defence procurement
The Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, has granted in-principle approval for various defence acquisition proposals totaling approximately Rs 1,10,000 crore. This massive procurement drive aims to modernize the Indian Army, Navy, and Air Force, with 98 per cent of the value intended for Indian industry.
Key procurements for the Indian Army include CBRN Recce Vehicles, High Mobility Vehicles, and Advanced Light Helicopters. The Indian Navy is set to acquire Arudhra Radars and Marine Gas Turbines to reduce foreign dependency, while the Air Force will focus on enhancing fighter and transport capabilities through new jamming systems and secure access technology.
In a related development for domestic manufacturing, TATA Advanced Systems Ltd has emerged as the lowest bidder for the Rs 20,000 crore Project Zorawar light tank program. Mahindra Defence Systems, the second-lowest bidder, will also develop a prototype. This project marks a significant step for private sector involvement in India's armoured fighting vehicle production.
Following the DAC announcement, the Nifty India Defence index rose by 2.50 per cent, reflecting strong investor confidence in the domestic defence sector.
Entities
Defence Acquisition Council · Indian Air Force · Indian Army · Indian Navy · Mahindra Defence Systems · Rajnath Singh · Tata Advanced Systems Ltd
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] The DAC granted in-principle administrative approval for various acquisition proposals worth approximately Rs 1,10,000 crore. aviationworld.in · www.latestly.com
- [○ 1 SOURCE] TATA Advanced Systems Ltd is the lowest bidder for the Rs 20,000 crore Project Zorawar light tank program. www.indiandefensenews.in
- [○ 1 SOURCE] Mahindra Defence Systems is the second-lowest bidder and will develop a prototype for the Zorawar program. www.indiandefensenews.in
- [○ 1 SOURCE] The Nifty India Defence index rose 2.50 per cent following the acquisition approvals. www.latestly.com
- [○ 1 SOURCE] Approximately 98 per cent of the procurement value is earmarked to be sourced from Indian industry. www.latestly.com