75 per cent of defence capital to be spent for procurement from home companies: Rajnath
2 min readBy PTI
BENGALURU: In a major announcement, Defence Minister Rajnath Singh on Wednesday mentioned the federal government will spend 75 per cent of the entire defence capital outlay for procurement from home defence producers from 2023-24.
The choice will imply setting apart round Rs 100,000 crore for procurement of army platforms and gear from the Indian producers, he mentioned.
Singh made the announcement at an occasion the place a number of agreements and expertise switch agreements have been firmed up amongst numerous defence firms which participated in Aero India 2023.
“It is a very significant decision which will further strengthen the domestic defence manufacturing sector,” Singh mentioned.
He additionally mentioned that Aero India 2023 has proven that the Indian defence sector is able to march forward together with high international defence firms.
The MoUs and expertise switch agreements signed throughout Aero India will facilitate a brand new starting for defence manufacturing in India, he mentioned.
A brand new chapter in India’s aerospace sector has begun at the moment, he mentioned referring to the agreements.
ALSO READ | BrahMos missile alone can take India’s defence exports to USD 3 billion by 2026
BENGALURU: In a major announcement, Defence Minister Rajnath Singh on Wednesday mentioned the federal government will spend 75 per cent of the entire defence capital outlay for procurement from home defence producers from 2023-24.
The choice will imply setting apart round Rs 100,000 crore for procurement of army platforms and gear from the Indian producers, he mentioned.
Singh made the announcement at an occasion the place a number of agreements and expertise switch agreements have been firmed up amongst numerous defence firms which participated in Aero India 2023.
“It is a very significant decision which will further strengthen the domestic defence manufacturing sector,” Singh mentioned.
He additionally mentioned that Aero India 2023 has proven that the Indian defence sector is able to march forward together with high international defence firms.
The MoUs and expertise switch agreements signed throughout Aero India will facilitate a brand new starting for defence manufacturing in India, he mentioned.
A brand new chapter in India’s aerospace sector has begun at the moment, he mentioned referring to the agreements.
ALSO READ | BrahMos missile alone can take India’s defence exports to USD 3 billion by 2026
