India on Thursday approved procurement of indigenously developed military equipment worth Rs 70,584 crore, which is expected to give a big boost to domestic defense manufacturing.
Officials said the Defense Acquisition Council (DAC) headed by Defense Minister Rajnath Singh approved the procurement proposals. The fresh procurement proposals have been cleared amid the nearly three-year-long standoff with China along the Line of Actual Control in the eastern Ladakh region.
The DAC approved ‘Acceptance of Necessity’ (AoN) worth Rs 70,584 crore for procurement of military equipment, under which all purchases would be made under the ‘Indigenously Designed, Developed and Manufactured’ category.
Rajnath Singh’s office tweeted, “Indigenous procurement of such a quantity will not only propel Indian industries towards achieving the goal of ‘self-reliant India’, but will also reduce India’s dependence on foreign vendors to a great extent.” ”
