July 22, 2024 17:28 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Supreme Court stays Yogi govt's Kanwar Yatra diktat given to eateries | 'They tried to silence me': PM Modi slams Opposition on day 1 of Parliament's Budget session | 'Serious problem in our examination system': Rahul Gandhi slams Dharmendra Pradhan over NEET in Lok Sabha | NEET row: Education Minister Dharmendra Pradhan says, 'No evidence of paper leak in past 7 years' | Budget will set tone and trajectory for next 5 years: PM Modi as Parliament's Monsoon Session begins today
DAC finalises broad contours of policy to engage Indian private sector in manufacture of high-tech defence equipment in India

DAC finalises broad contours of policy to engage Indian private sector in manufacture of high-tech defence equipment in India

| | 20 May 2017, 03:50 pm
New Delhi, May 20 (IBNS): Breaking new ground, the Defence Acquisition Council (DAC) under the Chairmanship of the Minister of Defence, Arun Jaitley, on Saturday finalised the broad contours of a policy aimed at engaging the Indian private sector in the manufacture of high-tech defence equipment in India.

The policy is aimed at developing the defence industrial eco-system in the country through the involvement of both the major Indian corporates as well as the MSME sector.


The policy, which was developed through extensive stakeholder consultations with Indian industry, envisages the establishment of long-term strategic partnerships with qualified Indian industry majors through a transparent and competitive process wherein the Indian industry partners would tie up with global OEMs to seek technology transfers and manufacturing know-how to set up domestic manufacturing infrastructure and supply chains. 

The policy will give a boost to the ‘Make in India’ policy in the Defence sector and set Indian industry on the path to acquiring cutting-edge capabilities which will contribute to the building of self-reliance in the vital sector of national security requirements.

The policy is expected to be implemented in a few selected segments to begin with, namely, fighter aircraft, submarines and armoured vehicles. 

In future, additional segments may be added. 

Appropriate institutional mechanisms will be set in place to implement the policy.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.