India Approves 24 Capital Acquisition Proposals, worth over USD 10 billion

India Approves 24 Capital Acquisition Proposals, worth over USD 10 billion

Fri, 12/23/2022 - 18:18
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New Delhi, Dec 22

The Defence Acquisition Council (DAC), headed by defence minister Rajnath Singh, in its meeting held on December 22, 2022, has accorded approval for Acceptance of Necessity (AoN) for 24 Capital Acquisition Proposals. These proposals include six for Indian Army, six for Indian Air Force, 10 for Indian Navy and two for Indian Coast Guard for a total value of Rs 84,328 crore. It is pertinent to mention that 21 proposals, worth Rs 82,127 crore (97.4%), are approved for procurement from indigenous sources. This unprecedented initiative of DAC will not only modernise the Armed Forces but also provide substantial boost to the defence industry to achieve the goal of ‘Aatmanirbhar Bharat’. 

The AoNs accorded will equip the Indian Army with platforms and equipment such as Futuristic Infantry Combat Vehicles, Light Tanks and Mounted Gun System providing a quantum jump to Indian Army’s operational preparedness. Proposals approved also includes procurement of Ballistic Helmets, with enhanced protection level, for our soldiers.     

Approvals for procurement of Naval Anti-Ship Missiles, Multi-Purpose Vessels and High Endurance Autonomous Vehicles will further enhance maritime strength giving boost to Indian Navy’s capabilities. 

Indian Air Force will be further strengthened with enhanced lethal capabilities by induction of new range of missile system, Long Range Guided Bombs, Range Augmentation Kit for conventional bombs and advanced surveillance systems. 

The procurement of Next Generation Offshore Patrol Vessels for Indian Coast Guard will enhance surveillance capability in the coastal areas to new heights.