NEW DELHI: In a meeting on Thursday Defence Acquisition Council (DAC) approved the various procured equipment worth Rs 38,900 crore. The meeting chaired by Defence Minister Rajanth Singh came amid the recent standoff between India-China in Ladakh Region.
The government has approved Rs 38,900 crore deal with Russia to buy MiG-29 fighter jets, upgrading over 50 MiG-29s, procuring Su-30 MKI from HAL and for indigenously developing advanced missile, rocket systems amid tension with China at the Line of Actual Control (LAC).
Ministry of defence stated that the proposal of an approximate cost Rs 38,900 crore were approved.
Defence Minister Rajnath Singh, who was on Russia visit last week, has given a go-ahead for the proposal for upgrading armed forces to further strengthen Indian Air Force’s fighter jet portfolio and missile systems.
More Emphasis on Indigenous design and development:
The approval is aimed to build Indigenous design and development from the Indian Industry. A total of Rs 31, 130 crores is approved by the Ministry of Defence, involving of Indian Defense Industry with the participation of Several Micro Small and Medium Enterprises( MSMEs).
The cost of design and development proposals is in the range of Rs 20,400 crore, which includes Pinaka ammunitions, Long Range Attack Cruise Missile Systems, BMP armament upgrades and software, Astra Missiles for Indian Navy and Indian Air Force. Defence equipment will be built by Indian Companies with technology transfer to them by the Defense and Research Organisation (DRDO).