Government has signed 100 contracts with Indian vendors for capital procurement of defence equipment to make India self-reliant in the defence sector
- IBEF
- August 7, 2023
To make India self-reliant in the defence industry, the government has signed 100 contracts with Indian vendors for the capital procurement of defence equipment.
Minister of State for Defence, Mr. Ajay Bhatt reported that a total of 122 contracts had been signed throughout the course of the last three fiscal years. According to him, the government has taken the necessary steps to develop indigenous advanced technologies and complex systems in order to make the country self-reliant.
As per Mr. Ajay Bhatt, the Defence Acquisition Procedure- 2020 was established to encourage domestic manufacturing and maximise the procurement of defence equipment from indigenous sources. The Minister said, two Defence Industrial Corridors have been set up in Uttar Pradesh and Tamil Nadu to catalyse indigenous production of defence and aerospace-related items.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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