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New Delhi: The decision of the <keyword id="20330004" type="General" weightage="100" keywordseo="Defence-Acquisition-Council" source="keywords" meta.keywordsubtype="org" meta.entityname="Defence Acquisition Council" meta.hostid="261" meta.entityid="Defence Acquisition Council">Defence Acquisition Council</keyword> (DAC) to accept 10 <keyword id="22515789" type="General" weightage="20" keywordseo="capital-acquisition" source="keywords">capital acquisition</keyword> proposals worth Rs 1.4 trn will not only boost <keyword id="23034601" type="General" weightage="20" keywordseo="domestic-defence-manufacturing" source="keywords">domestic defence manufacturing</keyword> but will contribute to the growth of the <keyword id="20362868" type="General" weightage="20" keywordseo="PSU-companies" source="keywords">PSU companies</keyword> in the defence sector, highlighted a report by Antique Stock Broking. The report noted that the growth of domestic defence manufacturing in the country has picked up significantly over the last few years and is expected to grow further in the future. It added that the government's focus on enhancing domestic capabilities is evident from its initiatives in FY24, where Acceptance of Necessity (AoN) was accorded to proposals worth approximately Rs 3.61 trillion under various capital procurement categories. These initiatives are in line with the Defence Acquisition Procedure (DAP) 2020, which strongly promotes domestic manufacturing. "The government, in FY24, accorded Acceptance of Necessity (AoN) to proposals worth approximately INR 3.61 trn under various categories of capital procurement, which promotes domestic manufacturing as per DAP-2020" said the report. A significant milestone highlighted in the report is the remarkable increase in the share of domestic procurement in India's defence sector. The share has improved from 54 per cent in FY19 to 75 per cent in FY24. The report noted that this trend is expected to strengthen further, driven by the fact that more than 99 per cent of the announced proposals are to be sourced from the domestic industry under the "Buy (Indian)" and "Buy (Indigenously Designed, Developed, and Manufactured)" categories. "The total share of domestic procurement has seen a phenomenal improvement from 54% in FY19 to 75% in FY24 and is expected to improve further. The report stated that the DAC's (Defence Acquisition Council) approval of proposals worth Rs 1.45 trillion is aimed at enhancing the operational capabilities of the Indian Armed Forces. The report further emphasizes that with Rs 1.45 trillion worth of projects already approved in the year-to-date FY25, the <keyword id="20994345" type="General" weightage="20" keywordseo="defence-PSUs" source="keywords">defence PSUs</keyword> are poised for strong growth in the near to long term. "With approval for Rs 1.45 trn worth of projects in YTDFY25, we believe defence PSUs have strong growth opportunities in the near to long term" the report added. The Defence Acquisition Council (DAC), under the chairmanship of Defence Minister Rajnath Singh on Tuesday accorded Acceptance of Necessity (AoN) for 10 capital acquisition proposals amounting to Rs 1,44,716 crore. Of the total cost of AoNs, 99 per cent is from Indigenous sources under the Buy (Indian) and Buy (Indian-Indigenously Designed Developed and Manufactured) categories, the Ministry of Defence stated. For the modernisation of the tank fleet of the Indian Army, the proposal for procurement of Future Ready Combat Vehicles (FRCVs) has been cleared. The FRCV will be a futuristic Main Battle Tank with superior mobility, all-terrain ability, multilayered protections, precision and lethal fires over and real-time situational awareness, the release stated. The AoN was also accorded for procurement of Air Defence Fire Control Radars, which will detect and track aerial targets and provide firing solutions. The proposal has also been approved for Forward Repair Team (Tracked) which has suitable cross-country mobility for carrying out in-situ repair during mechanised operations.

DAC capital acquisition of Rs 1.4 trn to boost defence PSUs: Report

A Rs 16000 crore deal for new air defence guns tops the agenda of the crucial meeting of defence acquisition council where <keyword id="6366153" type="POSITION" weightage="100" keywordseo="Defence-Minister">Defence Minister</keyword> <keyword id="6363133" type="PERSON" weightage="100" keywordseo="Manohar-Parrikar">Manohar Parrikar</keyword> is expected to take decisions on several major ‘Make in India’ projects today for the <keyword id="15350" type="ORGANIZATION" weightage="100" keywordseo="Army">Army</keyword> and <keyword id="42407" type="ORGANIZATION" weightage="100" keywordseo="Navy">Navy</keyword>. 

	The meeting is underway in South Block and a final approval to making successor guns for the L70/Zu 23 systems is expected to be granted under the Buy and Make (India) plan today as Defence Minister Manohar Parrikar is expected to take decisions on several major ‘Make in India’ projects today for the Army and Navy. This would mean that private players will be in contention for a mega Army order for 430 guns in the first tranche.
 

	As reported, only two companies - Punj Llyod and Bharat Forge - had responded to an army request for information on the procurement plan. However, the Parrikar led ministry could broad base the project by inviting other private sector players too for the final bids.
 

	The Army is also expected to get a new regiment of 'Steep Dive Capability' Brahmos missiles for use in the mountain areas of the North East.
 

	The new regiment, expected to cost over Rs 4000 crore, will be a major boost for the Army that is struggling with an ageing artillery.
 

	For the Navy, decisions are expected on a purchasing a new class of survey vessels that would be made in India. The vessels, four in quantity, could cost over Rs 2000 crore, sources said. Ironically, the Navy, which has a seminar this week on indigenization, has two major foreign buys pending that could be discussed.
 

	These include a new surface to air missile system for the Delhi class of destroyers that would be bought from Russia and additional approvals for four new P8 I maritime patrol aircraft. The two projects are expected to cost the Navy close to Rs 7000 crore - all for imported systems.

	 
	 
	(Image credits: Twitter)

Rs 1600 crore deal tops the agenda of defence acquisition council meeting

The Forthcoming meeting of the <a href="http://www.businessinsider.in/searchresult.cms?query=Defence+Acquisition+Council&amp;sortorder=effectivedate">Defence Acquisition Council</a> (DAC), if sources are to be believed, on Saturday will be a mark different from those so far. 
 
Bureaucrats and senior brass of Army, Navy and Air Force have been busy preparing in-depth agendas and giving detailed briefings to the Defence Minister <a href="http://www.businessinsider.in/searchresult.cms?query=Manohar+Parrikar&amp;sortorder=effectivedate">Manohar Parrikar</a> before this meeting of the DAC on June 25. 
 Purchase of M777 ultra-light howitzers under a foreign military sales deal with the US will figure in the meeting for sure, said a senior official of the <keyword id="43909" type="ORGANIZATION" weightage="40" keywordseo="Defence-ministry">defence ministry</keyword>. Other critical purchases for the defence forces such as the UAVs (or the unarmed aerial vehicles), new fleet of modern drones besides range of vessels for the <keyword id="6355100" type="ORGANIZATION" weightage="20" keywordseo="Indian-Navy">Indian Navy</keyword> will figure in in the meeting. 
 The <keyword id="754702" type="ORGANIZATION" weightage="80" keywordseo="Defence-Acquisition-Council">Defence Acquisition Council</keyword> (DAC), headed by the Defence Minister <a href="http://www.businessinsider.in/searchresult.cms?query=Manohar+Parrikar&amp;sortorder=effectivedate">Manohar Parrikar</a> and comprising officials from tri-services and from the Defence Ministry, is the key body that gives nods to acquisitions and modernisation plans. 
 
The June 25 meeting comes after a gap of several weeks. Asked why the delays in the meetings of DAC as the body meets at least once a month under normal circumstances, and more if required, a senior MoD official said, “I agree that the last consequential meeting of DAC was the one held in December 2015 and thereafter after the couple of meetings focussed on streamlining and finalising the new DPP, and review of long languishing cases in the acquisition pipeline, and no substantial meetings have taken place thereafter…we understand the anxiousness of the industry but we must understand that any major policy change like the DPP needs time to adapt.” 
 
“We expect some indepth discussions on projects involving critical purchases for the defence sector. Many projects that are stuck due to procedural delays will be looked into following directions at the top most level,” officials said. 
 
On the acquisition of a new fleet of drones for the air Force, presentations have been prepared on purchasing drones from the US and Israel. Acquiring the Heron TP drones from Israel will be discussed as also on the US-made Predator armed drones. 
 Purchases of <keyword id="863142" type="ORGANIZATION" weightage="60" keywordseo="Air-Defence-Systems">Air Defence Systems</keyword> from Russia is also on the agenda, sources said. 
 
<a href="https://upload.wikimedia.org/wikipedia/commons/a/ac/M777_howitzer_rear.jpg">Image Source</a>

Purchase of M777 ULHs and Naval Vessels to be discussed in the DAC Meeting on June 25

After a long wait, the <keyword id="6354416" type="ORGANIZATION" weightage="100" keywordseo="indian-army">Indian Army</keyword> is finally getting heavy-duty six Apache attack helicopters. The <keyword id="43909" type="ORGANIZATION" weightage="20" keywordseo="defence-ministry">defence ministry</keyword> cleared the acquisition of six <keyword id="1156017" type="UNKNOWN" weightage="20" keywordseo="apache-helicopters">Apache helicopters</keyword>, which will be armed with Hellfire and Stinger missiles at the tune of Rs 4, 168 crore. The army was in a tussle with the <keyword id="15141" type="ORGANIZATION" weightage="20" keywordseo="indian-air-force">Indian Air Force</keyword> (IAF) over the last several years and had sought government's approval for acquisition of 11 Apache helicopters from the US as "a follow-on contract" to the Rs 13,952 crore deal inked for 22 such choppers for the IAF in September 2015. But after stiff opposition from the IAF, the Arun Jaitley-led defence acquisitions council (DAC) cleared the Army's whittled down proposal for the six AH-64E Apache helicopters, which are manufactured by Boeing. The DAC also cleared a proposal to procure two gas turbine engines for naval ships at a cost of Rs 490 crore.

Indian Army to get its own heavy-duty Apache attack helicopters after a long wait

New Delhi, The <keyword id="43909" type="General" weightage="100" keywordseo="defence-Ministry" source="Orion">defence ministry</keyword> on Thursday approved the proposed procurement of 26 Naval variant of <keyword id="6381048" type="General" weightage="20" keywordseo="Rafale" source="Orion">Rafale</keyword> jets from France, people familiar with the development said. The project was cleared by the Defence Acquisition Council (<keyword id="456872" type="General" weightage="20" keywordseo="DAC" source="Orion">DAC</keyword>) headed by Defence Minister Rajnath Singh on a day Prime Minister Narendra Modi begins a two-day visit to Paris. The DAC, which is the defence ministry's highest decision making body on procurement, also cleared a proposal for construction of three more Scorpene submarines in India. The mega <keyword id="75940" type="General" weightage="20" keywordseo="defence-projects" source="Orion">defence projects</keyword> are expected to be announced after wide-ranging talks between Prime Minister Modi and French President Emmanuel Macron in Paris on Friday. The DAC's approval to the projects came around a week after they were cleared by the Defence Procurement Board (DPB). The Indian Navy is looking for procurement of 26 deck-based fighter jets for indigenously-built aircraft carrier INS Vikrant. After a lengthy process, the Navy had narrowed down on Boeing's F/A-18 Super Hornet and French aerospace major Dassault Aviation's Rafale M aircraft for the procurement. Later, Rafale-M, the naval variant of the lethal jet, emerged as the winner in the tight race. India has already procured 36 Rafale jets from France for the Indian Air Force. The Rafale jets are India's first major acquisition of fighter planes in 23 year after the Sukhoi jets were imported from Russia. Another important project with France would be the follow on order of three Scorpene submarines. Under Project 75, six Scorpene submarines have already been made in India. PTi MPB DV DV

Procurement of 26 Rafale jets for Navy approved

New Delhi, <keyword id="3658" type="General" weightage="20" keywordseo="India" source="Orion">India</keyword> on Thursday accorded an initial approval to defence acquisition projects worth Rs 2.23 lakh crore that included procurement of 97 <keyword id="6376012" type="General" weightage="20" keywordseo="Tejas" source="Orion">Tejas</keyword> light combat aircraft and 156 Prachand combat helicopters, in a major move to significantly enhance the combat capabilities of the armed forces. The Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, cleared the projects, at a time India is locked in a bitter military standoff with China at a number of friction points in eastern Ladakh for over three years. The defence ministry said 98 per cent of the total procurement worth Rs 2.23 lakh crore will be sourced from the domestic industries and that the move will give a substantial boost to the Indian defence industry in achieving the goal of 'Aatmanirbharta' (self-reliance) in defence industry. The DAC also approved a proposal of the Indian Air Force to upgrade its Su-30 fighter fleet by state-run aerospace major Hindustan Aeronautics Ltd (<keyword id="68124" type="General" weightage="20" keywordseo="HAL" source="Orion">HAL</keyword>). The DAC further accorded Acceptance of Necessity (AoN) or initial approval for procurement of two types of anti-tank munitions namely area denial munition (ADM) type-2 and type-3. The top body on procurement of military hardware also cleared acquisition and integration of automatic target tracker (ATT) and digital basaltic computer (DBC) for T-90 tanks besides approving another proposal to buy medium range anti-ship missiles (MRAShM) for the Indian Navy. The MRAShM is a lightweight surface-to-surface missile which will be a primary offensive weapon onboard various Indian naval ships. "The DAC accorded AoNs for procurement of Light Combat Helicopter for Indian Air Force and Indian Army and Light Combat Aircraft (LCA) Mk-1A for IAF from Hindustan Aeronautics Limited (HAL) under Buy (Indian-IDDM) category," the ministry said. Though it did not mention the specific numbers, official sources said 97 Tejas Light Combat Aircraft (Mark 1A) are being procured for the IAF and 156 Light Combat Helicopters (LCH) are being procured for the Army and the Air Force. In February 2021, the defence ministry sealed a Rs 48,000 crore deal with the Hindustan Aeronautics Ltd for procurement of 83 Tejas MK-1A jets for the IAF. With the additional fleet, the number of indigenously-developed Tejas aircraft being procured by the IAF would go up to 180. "The AoNs have also been accorded by the DAC for upgradation of Su-30 MKI aircraft indigenously from HAL. "While procurement of these equipment will provide enormous strength to the IAF, acquisition from domestic defence industries will take the indigenous capability to a new height," the ministry said in a statement. "It will also reduce dependability on foreign Original Equipment Manufacturers (OEMs) substantially," it added.

India approves defence acquisition projects worth Rs 2.23 lakh cr

India has cleared the construction of its largest warship. The <keyword id="2738388" type="UNKNOWN" weightage="20" keywordseo="INS-Vishal">INS Vishal</keyword> would weigh around 65,000 tonnes and may have nuclear capabilities. It’ll join the ranks of the <keyword id="42407" type="ORGANIZATION" weightage="20" keywordseo="Navy">navy</keyword> in about a decade. 
 The <keyword id="754702" type="ORGANIZATION" weightage="20" keywordseo="Defence-Acquisition-Council">Defence Acquisition Council</keyword> (DAC) has invested Rs 30 crore to officially launch the project. The aircraft carrier-II (IAC-II) bears huge significance for the country as it’s competiting with China for the same strategic space in the <keyword id="12350" type="ENTERTAINMENT" weightage="20" keywordseo="Indian-Ocean">Indian Ocean</keyword> region. The latest warship would give India huge strategic advantage. 
 
Aircraft carriers are the most powerful naval warfare equipment across the globe. They can travel 600 nautical miles a day with heavy arms on board. The INS Vishal would be able to launch fighter jets and heavier aircrafts from its deck. 
 
The possible reasons behind India’s step could be the increasing Chinese influence in the Indian Ocean. It has commissioned its first carrier Liaoning in 2012 and is currently building four more, two regulars and two 90,000-tonne nuclear-powered super carriers. 
 
Moreover, India’s INS Viraat will retire early next year. That leaves only INS Vikramaditya to lead the navy. The INS Vikrant is being built at the Cochin Shipyard, but will only be ready to join by 2018. 
 (Image: <keyword id="10879" type="CITY" weightage="20" keywordseo="YouTube">YouTube</keyword>)

Say hello to India’s largest warship. It’s on its way

New Delhi, The <keyword id="43909" type="General" weightage="20" keywordseo="defence-Ministry" source="Orion">Defence Ministry</keyword> on Friday cleared procurement of various weapons systems and platforms including Dhruvastra short range air-to-surface missile and 12 <keyword id="18793242" type="General" weightage="20" keywordseo="Su-30-MKI-fighter" source="Orion">Su-30 MKI fighter</keyword> jets at a cost of around Rs 45,000 crore. A total of nine procurement proposals were approved by the Defence Acquisition Council (DAC) headed by Defence Minister Rajnath Singh, officials said. "All these procurements will be made from Indian vendors under Buy (Indian-Indigenously Designed Developed and Manufactured (IDMM)/Buy (Indian) category which will give substantial boost to the Indian defence Industry towards achieving the goal of 'Aatmanirbhar Bharat'," the defence ministry said. To enhance protection, mobility, attack capability and increase survivability of mechanised forces, the DAC accorded the approval for procurement of Light Armoured Multipurpose Vehicles (LAMV) and Integrated Surveillance and Targeting System (ISAT-S), the ministry said in a statement. The DAC cleared also cleared the procurement of High Mobility Vehicle (HMV) Gun Towing Vehicles for swift mobilisation and deployment of artillery guns and radars. The DAC further approved procurement of next generation survey vessels for the Indian Navy, the ministry said. It said a proposal of the Indian Air Force to ensure avionic upgrade of Dornier aircraft to improve the accuracy and reliability for operations was also given Acceptance of Necessity (AoN). The AoN is the initial approval. "The procurement of Dhruvastra Short Range Air-to-Surface Missile as a potent Indigenous Precision Guided Weapon for indigenously built ALH Mk-IV Helicopters has been cleared by the DAC," the ministry said. "The AoN for procurement of 12 Su-30 MKI Aircraft with associated equipment from Hindustan Aeronautics Limited (HAL) was also accorded," it said.

Air-to-surface Missile and 12 Su-30 MKI fighter jets at a cost of around Rs 45,000 crore approved by DAC

New Delhi, Nov 29 () The UK India Business Council (UKIBC) on Friday announced the establishment of the Aerospace and Defence Industry Group to boost bilateral cooperation in the areas.
 "This initiative recognises that the UK-India relationship in aerospace and defence is at a critical turning point and is another demonstration of the close ties between Indian and UK industry," UKIBC said in a statement.
 It stated that in 2019, a memorandum of understanding on 'defence technology industrial capability cooperation' was signed between the UK and India which highlighted the UK government's approach towards enhancing cooperation with India, and the defence vertical is an example of how this cooperation is being taken to a new level.
 "The Aerospace and Defence Industry Group will support and build on the huge opportunities for collaboration that exists between the defence industries of the UK and India. The collaboration will not only advance India's defence acquisition process but also foster long-term technology and hardware transfers," UKIBC Vice-Chair Richard McCallum said.
 "We support the Government of India's Make in India initiative and believe that the Aerospace and Defence Industry Group can contribute to India's continued emphasis on defence modernisation and sophisticated military capabilities, which will be a win-win for both the UK and India," he added.
 The Group has been formed after suggestions of the Defence and Security Organisation and with the support of the UK Defence Solutions Centre, ADS Group Ltd, the Department for International Trade, and industry.
 The core members of the group include Rolls-Royce, BAE systems, Thales UK, MBDA, Leonardo, TVS Logistics, PEXA, Pattonair and Cranfield University. RSN HRS

UKIBC launches Aerospace and Defence Industry Group

The Defence Acquisition Council (DAC) on Friday cleared the issuing of a Request For Proposal (RFP) for the <keyword id="6355100" type="COMPANY" weightage="20" keywordseo="Indian-Navy">Indian Navy</keyword>'s mega deal to procure six <keyword id="117400" type="PERSON" weightage="20" keywordseo="Submarines">submarines</keyword> under Project-75I through a strategic partnership route worth over ₹45,000 crore. Two Indian companies and five foreign Original Equipment Manufacturers had already been shortlisted earlier. The mega deal was approved during the DAC meet on Friday led by Defence Minister Rajnath Singh. The mega submarine project for building of indigenous submarines for the <keyword id="42407" type="COMPANY" weightage="20" keywordseo="Navy">Navy</keyword> got the final clearance wherein two Indian companies that can work in collaboration with a foreign manufacturer. The RFP has been issued to Mazagon Docks (MDL) and private company <keyword id="45475" type="COMPANY" weightage="20" keywordseo="Larsen-Toubro">Larsen &amp; Toubro</keyword>. Under the Project 75I, the submarines for the Indian Navy are going to be constructed in India and will be through ToT by the OEMs. This project is under the strategic partnership model which was adopted in an effort to ensure building capacity in the Indian industry. The idea is that this is going to help in the local manufacturing of major military platforms. The project received a clearance from the Cabinet Committee on Security (CCS) way back in 1999 and Acceptance of Necessity granted in 2007. The strategic partnership model aims at promoting India as a manufacturing hub for defence equipment, in addition to establishing an industrial and R&amp;D eco-system capable of meeting the future requirements of the Armed Forces besides giving boost to exports. The Indian Navy currently has 12 submarines. In addition there are two nuclear submarines <keyword id="45878" type="COMPANY" weightage="20" keywordseo="INS-ARIHANT">INS Arihant</keyword> and INS Chakra in the navy's fleet. Upgrading its submarine operations and the naval fleet has been the top priority for the Indian Navy in wake of the increased presence of Chinese vessels in the Indian Ocean region. SEE ALSO <a target="_blank" class="c-link" href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-ce-5g-mobile-phone-full-specifications-leaked-days-ahead-of-launch/articleshow/83195375.cms">OnePlus Nord CE 5G full specifications leaked days ahead of launch – heavily inspired by the original Nord</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/business/startups/news/top-five-fintech-ideas-that-are-drawing-the-most-amount-of-money/slidelist/83194276.cms">Five fintech ideas that are raking in the most amount of money</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/stock-market/news/reliance-industries-rossari-biotech-tata-power-and-other-stocks-to-watch-out-for-on-june-3/slidelist/83193921.cms">Reliance Industries, Rossari Biotech, Tata Power and other stocks to watch out for on June 3</a>

Defence Ministry clears Indian Navy's ₹45000 crore deal to procure six submarines

New Delhi (India), July 10 (ANI): In a major development, India is planning to buy 26 Rafale fighter aircraft and three <keyword id="4045841" type="General" weightage="20" keywordseo="Scorpene-class" source="Orion">Scorpene class</keyword> conventional submarines from France. The proposals have been placed before the Defence Ministry by the defence forces and are likely to be announced during Prime Minister Narendra Modi's visit to France this week, government sources told ANI. As per the proposals, the Indian Navy will get 22 single-seated Rafale Marine aircraft along with four trainer aircraft. The Navy had been pressing for acquiring these fighter aircraft and submarines urgently as they have been facing shortages in view of the security challenges around the country. The aircraft carriers INS Vikramaditya and Vikrant have been operating the MiG-29s and need the <keyword id="925199" type="General" weightage="20" keywordseo="Rafales" source="Orion">Rafales</keyword> for operations on both carriers. Meanwhile, the three Scorpene class submarines would be acquired under the repeat clause by the Navy as part of Project 75 where they would be built in the Mazagon Dockyards Limited in Mumbai. The deals are estimated to be worth over Rs 90,000 crore but the final cost would be clear only after the contract negotiations are completed which will be held after the deal is announced. India is likely to seek price concessions in the deal and would be insisting on having more 'Make-in-India' content in the plan, sources said. Industry sources said for the Rafale M deal, India and France are expected to form a joint team to negotiate the deal like it was done for the previous Rafale deal for 36 fighter aircraft. The proposals have been discussed in the defence ministry at high-level meetings already and are likely to be placed before the defence acquisition council in the next few days and expected to be accorded Acceptance of Necessity by the government before the announcement in France. (ANI)

India to buy 26 Rafales, 3 Scorpene submarines from France, deals likely to be announced during PM Modi's visit

<ul><li><keyword id="7706628" type="General" weightage="20" keywordseo="Defence-Minister-Rajnath-Singh" source="Orion">Defence Minister Rajnath Singh</keyword> on Saturday said the government is working and committed to increasing the <keyword id="15812191" type="General" weightage="20" keywordseo="defence-production-target" source="Orion">defence production target</keyword> from the current $12 billion to $22 billion by 2025.</li><li>The government is also working to provide market access to the domestic industry to make them Aatmanirbhar.</li><li>Defence Minister said, India has moved from the group of 'fragile 5' economies to 'fabulous 5 world economies' in the last nine years and registered itself as one of the fastest growing economies.</li></ul>Defence Minister Rajnath Singh on Saturday said the government is working and committed to increasing the defence production target from current $12 billion to $22 billion by 2025. "You (industry) can imagine, with this kind of growth, how many opportunities will be available for the Indian industry," the Defence Minister said while addressing <keyword id="15812194" type="General" weightage="20" keywordseo="FICCIs-95th-Annual-Convention" source="Orion">FICCI's 95th Annual Convention</keyword> &amp; AGM here. He further underlined that to increase the participation of domestic industry, the government has reserved a certain portion of defence capital acquisition for domestic procurement. "Out of the total defence capital budget outlay, 68 per cent of it is reserved for indigenous procurement by domestic industry and 25 per cent for the private sector. The results of these have now started appearing and more measures will be announced soon," he emphasised. The government, he said, is also working to provide market access to the domestic industry to make them Aatmanirbhar. Singh said that in the last few years, there has been a continuous increase in defence exports. The government has already taken a series of steps including simplifying the FDI norms which have been increased to 74 per cent via automatic route and 100 per cent via government route, he added. The Defence Minister also urged the domestic industry and foreign Original Equipment Manufacturers to invest in Indian defence sector by focusing on R&amp;D, bringing in newer technologies and capital. He added that India is making defence products not just for the domestic market but also to meet the global requirements. "The world is waiting for the products made in India," he claimed. India has moved from the group of 'fragile 5' economies to 'fabulous 5 world economies' in the last nine years and registered itself as one of the fastest growing economies, the Defence Minister said on the occasion. Sanjiv Mehta, President, FICCI, thanked the government for ushering in reforms in the process of defence acquisition and facilitating ease of doing business through the revision of the DPP 2016 as DAP 2020 and assured Industry's unstinted support for achieving the goal of 'Aatmanirbhar Raksha Utpadhan'. Subhrakant Panda, President-Elect, FICCI said that the government's focus on 'Make In India' and 'Make for the World' is an impressive strategic move towards shedding its historical status of one the largest importer of defence equipment to a net exporter. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/gst-council-meet-decriminalisation-tax-evasion-in-pan-masala-gutkha-biz-on-agenda/articleshow/96297108.cms">GST Council meet: decriminalisation, tax evasion in pan masala, gutkha biz on agenda</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/ukraines-2nd-largest-city-without-power-after-russian-strikes/articleshow/96294790.cms">Ukraine's 2nd largest city without power after Russian strikes</a>

Govt committed to achieving defence production target of $22 bn by 2025: Rajnath

India’s <keyword id="6366153" type="POSITION" weightage="100" keywordseo="Defence-Minister">defence minister</keyword> <keyword id="6363133" type="PERSON" weightage="100" keywordseo="Manohar-Parrikar">Manohar Parrikar</keyword> is going to hold a high-powered Defence Acquisition Council (DAC) this Saturday, in which he would discuss projects that he is considering, said to be worth over Rs 1 lakh crore. These projects include critical purchases like armed unmanned aerial vehicles (UAVs), an advanced air defence system, carbines for the Army and a range of vessels for the Navy. 
 
 As per <a href="http://economictimes.indiatimes.com/news/defence/rs-1-lakh-crore-defence-purchases-on-manohar-parrikars-mind/articleshow/52875093.cms">ET</a> sources, the Saturday meeting would decide the fate of several of these projects, some of which have been pending for years now, because of differences within the ministry. 
 The proposal to acquire a new fleet of armed drone for the <keyword id="15141" type="ORGANIZATION" weightage="100" keywordseo="Indian-Air-Force">Indian Air Force</keyword>, which will help IAF increase its opportunity for disciplinary cross-border action in response to terror, is on the topmost priority. Last year, there were talks of a $400 million proposal for acquiring armed Heron TP drones from Israel, but nothing has been officiated as of yet. Now, India might also buy US-made Predator armed drones since it has got entry into the Missile Technology Control Regime. 
 
Another plan for IAF acquisition involves $6.1-billion purchase of S 400 air defence system from Russia, which could be a game-changer for the region, since S 400 has a range of over 300 km, along with an ability to target aircrafts that are flying deep in enemy territory. China is also procuring the same aircrafts. 
 
Other than this, IAF is also expected to appeal to acquire the Indo-Israeli long-range surface-to-air missile, along with the long-pending proposal to equip two Boeing 777 VVIP aircrafts, which are being transferred from Air India with missile avoidance systems. 
 Talking of <keyword id="6354416" type="ORGANIZATION" weightage="100" keywordseo="Indian-Army">Indian Army</keyword>, there are chances that the $700-million plan to purchase 145 M777 ultra-light howitzers, which is to be done as per a foreign military sales deal with the US, pending since January 2016, could have some light thrown on it. 
 
There is one more Army plan, to replace its long-retired short-range 44,600 carbines, which is pending since 2010. Along with that, long-running 'short-range surface-to-air missile' project of the Army could also be taken a decision on, which aims to buy an agile missile shield for forward moving forces. 
 
Navy, on the other hand, has a range of vessels that are soon going to expire, so replacing them could be discussed in the meeting. These include six new-generation missile vessels and a new range of fleet support vessels. 
 
<a href="http://d2njw6ojlwqnje.cloudfront.net/wp-content/uploads/2015/09/manohar-parrikar.jpg?d5f337">Image source</a>

Defence minister is considering purchases worth Rs 1 lakh crore

<ul><li>The Defence Acquisition Council (DAC), chaired by <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>’s Defence Minister, <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> approved a ₹46 billion contract for new military equipment.</li><li>In the accelerating <keyword id="6828657" type="UNKNOWN" weightage="20" keywordseo="asian-arms-race">Asian arms race</keyword>, India lags behind in both absolute and relative spending. </li><li>Two-thirds of India’s military bill goes toward paying the infantry, leaving little left over for purchasing new weaponry.</li></ul>India’s defence ministry has just <a href="http://pib.nic.in/newsite/pmreleases.aspx?mincode=33">approved the acquisition</a> of new military equipment in a ₹46 billion ($6.5 billion) deal. Their current war chest is quickly becoming obsolete, and this new contract ties in with the Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword>’s promise of spending ₹17 trillion ($250 billion) towards the modernisation of military technology. This tender is particularly significant because it’s the first time that the India government will be applying the technology from a foreign investor while building the equipment at home. 
 
 
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 India isn’t alone its efforts to build up its arms. The annual defence spending in Asia, on average, has doubled over the century to nearly ₹31.5 trillion ($450 billion). Asian arms race Many <a href="https://www.scmp.com/news/asia/east-asia/article/2135802/asian-arms-race-stoked-chinas-booming-defence-budget-analysts">believe</a> it was China that instigated the arms race when in 2010 their military spending alone accounted for 28% of the military spending across Asia. In 2014, that ratio increased even further to 38%. As per the <a href="https://www.sipri.org/sites/default/files/2018-04/sipri_fs_1805_milex_2017.pdf">Stockholm International Peace Research Institute</a>, the United States led the world with an arms spending of ₹42.7 trillion ($610 billion) while China came in second with ₹16 trillion ($228 billion). India was in 5th place with ₹4.5 trillion ($63.9 billion) as their military expenditure. While India’s spending is a fraction of what other countries are bailing out, it’s still up from ₹3 trillion ($47 billion) in 2012. More than absolute numbers, the proportional increases in budgets are more telling. In Asia, specifically, the largest increases in military spending were seen in Cambodia, Bangladesh, Indonesia and China. Aside from arms, China’s neighbouring nations are also more actively engaged in curating their strategic partnerships to <a href="https://www.businessinsider.in/indo-japanese-relations-hedge-against-chinas-rise-with-their-first-ever-military-exercise/articleshow/65492296.cms">hedge against the risk</a> of the United States failing to contain the Chinese incursions into the South China Sea. Modernisation of India’s military India’s military spending as forever been at the hub of controversy since the <keyword id="474078" type="PERSON" weightage="20" keywordseo="bofors-scandal">Bofors scandal</keyword> in the 1980s. More recently, the deal for the acquisition of 36 Rafale jets off-the-shelf from France instead of 126 fighter jets that would partially be made in India has been in the limelight. Most experts argue that 36 jets are nowhere near enough for India’s requirements. An <a href="https://www.ft.com/content/902e056c-7756-11e2-b95a-00144feabdc0">ad-hoc</a> approach to India’s military strategy would do more harm than good in the long-run. In fact, one of the major issues with India’s military spending has been that more than two-thirds of the budget is allocated towards the salaries of people employed in the armed forces and their respective pensions. While infantry is important, its leaves too little for India to spend on weapons or its own research and development. That being said, the impetus from foreign investments being introduced into the defense sector should catalyse faster growth. (Representative image)

You Searched For "Defence Acquisition Council" and got 14 results

DAC capital acquisition of Rs 1.4 trn to boost defence PSUs: Report

ANI

Rs 1600 crore deal tops the agenda of defence acquisition council meeting

BI India Bureau

Purchase of M777 ULHs and Naval Vessels to be discussed in the DAC Meeting on June 25

Anupama Airy

Indian Army to get its own heavy-duty Apache attack helicopters after a long wait

BI India Bureau

Procurement of 26 Rafale jets for Navy approved

PTI

India approves defence acquisition projects worth Rs 2.23 lakh cr

PTI

Say hello to India’s largest warship. It’s on its way

BI India Bureau

Air-to-surface Missile and 12 Su-30 MKI fighter jets at a cost of around Rs 45,000 crore approved by DAC

PTI

UKIBC launches Aerospace and Defence Industry Group

PTI

Defence Ministry clears Indian Navy's ₹45000 crore deal to procure six submarines

IANS

India to buy 26 Rafales, 3 Scorpene submarines from France, deals likely to be announced during PM Modi's visit

ANI

Govt committed to achieving defence production target of $22 bn by 2025: Rajnath

IANS

Defence minister is considering purchases worth Rs 1 lakh crore

BI India Bureau

Arms spending in Asia continues as India shells out another ₹46 billion

Prabhjote Gill

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