The government on Monday finally approved the implementation of guidelines for the defence Strategic Partnership model that incentivises domestic private as well as foreign firms in military manufacturing in the country.
And the first project to kick off the long-delayed Strategic Partnership policy will be 111 utility twin-engine helicopters worth an estimated Rs 21,000 crore for the Indian Navy.
The decision to implement the policy was taken at a meeting of the Defence Acquisition Council, the highest decision-making body on procurement. Defence Minister Nirmala Sitharaman led the meeting.
“In continuation of its efforts to boost indigenous defence industry and to reduce timelines so as to ensure timely delivery of equipment to the Armed Forces, the DAC discussed and approved implementation guidelines for the Strategic Partnership Model,” a defence ministry spokesperson said.
Source:- CNBC TV 18