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India


DAC clears procurements of arms worth Rs 3,547 crore

DAC clears procurements of arms worth Rs 3,547 crore

New Delhi, Jan 16 (UNI) The Defence Acquisition Council (DAC), chaired by Defence Minister Nirmala Sitharaman, has cleared procurement of 72,400 assault rifles and 93,895 carbines on fast track basis for Rs 3,547 crore here on Tuesday.
This will enable the Defence Forces to meet their immediate requirement for the troops deployed on the borders.
To encourage participation of private sector in defence design and production and to give a boost to ‘Make in India’ programme, the Council has also introduced significant changes in the ‘Make II’ category of the Defence Procurement Procedure.
Considering that no government funding is involved in ‘Make II’ project, the DAC simplified the procedure to make it industry friendly, with minimal government control.
“The salient aspects of the revised procedure will now allow Ministry of Defence to accept suo-moto proposals from the industry and also allows start-ups to develop equipment for Indian Armed Forces. The minimum qualification criteria to participate in ‘Make II’ projects has also been relaxed by removing conditions related to credit rating and reducing financial net worth criteria”, an official release said here.
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