The proposals cleared by the DAC include new-generation anti-tank mines, air defence tactical control radar, heavy-weight torpedoes, medium-range maritime reconnaissance and multi-mission maritime aircraft, flight refueller aircraft and software-defined radios.
The defence ministry said 98 per cent of the total procurement worth Rs 2.23 lakh crore will be sourced from the domestic industries.
The defence ministry said the proposals approved by the DAC included one on procurement of 7.62x51 mm light machine gun and another on acquisition of weapons MH-60R helicopters of the Indian Navy.
A spate of recent orders under the Indigenously Designed Developed and Manufactured (IDDM) category have led to investor focus on defence stocks. Actually, the defence index has been an outperformer for a long while with public sector undertakings (PSUs) like Hindustan Aeronautics (HAL), Bharat Electronics (BEL), Bharat Dynamics (BDL), Garden Reach Shipbuilders Engineers (GRSE), Cochin Shipyard and Goa Shipyard being beneficiaries of the policy.
The defence ministry on Tuesday approved the procurement of military equipment and weapons worth Rs 28,000 crore that included swarm drones, carbines and bulletproof jackets.
The approved proposals included "procurement of night sight (image intensifier), light vehicles GS 4X4, air defence fire control radar (light) and GSAT-7B satellite," it mentioned.
Minister of State for Defence Ajay Bhatt said the major defence equipment that were imported included helicopters, aircraft radars, rockets, guns, assault rifles, missiles and ammunition.
India on Thursday approved capital acquisition of a plethora of indigenously-developed military hardware including indigenous BrahMos missiles, marine diesel engine, artillery gun system, electronic warfare suits and utility helicopters at a cost of Rs 70,584 crore as part of a mega procurement plan.
In line with the government's vision of 'Aatmanirbhar Bharat', the ministry of defence on Thursday signed contracts with Indian shipyards for the acquisition of 11 next generation offshore patrol vessels and six next generation missile vessels at a cost of nearly Rs 19,600 crore, officials said.
Sources said of the 13,700 crore, Rs 8,300 crore will be for procuring 118 Arjun (Mk-1A).
The cost of acquiring the advanced light helicopters from the state-run Hindustan Aeronautics Ltd (HAL) has been estimated at Rs 3,850 crore while a batch of rocket ammunition will cost Rs 4,962 crore, the defence ministry said.
'We see the defence industry as one of the leading sectors, which will significantly contribute to the growth of the Indian economy, but more importantly, bring atmanirbharta to national security.'
At least 40% of a product must be manufactured in India for it to qualify for the Indian Designed, Developed and Manufactured category.
The ministry of defence has set a goal of $26 billion, including export of $7 billion for the industry by 2025-26 through its Defence Production Policy 2018.
Tie-up with MBDA will have Indian partner as majority shareholder; first product likely in 2 years.
'The procurement cycle still consumes too much time; little has changed.'
'With the new DPP, there will be greater transparency and faster clearances.'
In 28 months, Manohar Parrikar as defence minister developed easy relationships with the top brass of the three Services as was rarely ever witnessed before. He threw caution to the winds and managed to pull the forces out of a downward spiral in operational capabilities.
Nitin A Gokhale, Co-founder, BharatShakti.in and long-time Rediff.com contributor, remembers a most unusual politician.
'The cost of the Rafale contract will be substantially lower than being talked about.' 'If you throw away the price they demand, our coffers will soon become empty.' 'When it comes to spending the nation's money I am very careful and stingy.'
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