A major boost for Indian Defense Industries, as India cleared proposals worth Rs 27,000 crores. The Ministry of Defence has approved various defense projects worth Rs 28,000 crores. Of which Rs 27,000 crores will be acquired from Indian industries.
The Indian Defence Minister Sree Rajnath Singh made this decision during Thursday’s Defence Acquisition Council (DAC) Meetings. Out of approved Rs 28,000 crores worth of defense projects, Rs 25,000 was approved under the indigenous design development and manufacturing category.
The News was first announced by the Indian Defence Minister himself on Twitter. The Minister said that Five cases valued at Rs 25000 Crore are approved under the indigenous design development and manufacturing category. Particularly noteworthy are the Defence Research and Developmental Organization(DRDO)’s Airborne Early Warning and Control systems (AEW&CS) for the Airforce and modular bridges for the Indian Army.
India has started to invest heavily in defense products as tensions with China and Pakistan are escalating.
