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By EquityPandit

INDIA

Defence Ministry Approves Military Acquisitions of Rs 8,357 Crore

He highlighted science as a key driver of economic growth.

The Defence Ministry approved Rs 8,357 Crores of military platforms and hardware, including air defence fire control radar and GSAT-7B satellite. The proposals were granted “Acceptance of Necessity” at a meeting of the Defence Acquisition Council (DAC) chaired by Defence Minister Rajnath Singh, the ministry said in a statement.


The approved proposals included “procurement of night sight, light vehicles GS 4X4, air defence fire control radar and GSAT-7B satellite,” it noted. Purchase of this equipment and systems will improve operational preparedness of armed forces by providing better visibility, enhanced mobility, improved communication and high capability of detecting enemy aircraft, it added.


Rajnath Singh said on Twitter that the DAC accorded Acceptance of Necessity for procurement of 14 iDEX products within 30 months of contract for prototype development. PM Modi had launched the iDEX initiative in April 2018 to promote innovation and technology development in defence and aerospace. Under the iDEX initiative, startups, MSMEs and research institutes are engaged and funded by the Defence Ministry.

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