AMN
Defence Acquisition Council has finalised broad contours of policy to engage Indian private sector in manufacture of high tech defence equipment in India. An official statement said the Council under the chairmanship of Defence Minister Arun Jaitley finalised the broad contours of the policy today.
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 envisages the establishment of long-term strategic partnerships with qualified Indian industry majors through a transparent and competitive process.
The Indian industry partners would tie up with global Original Equipment Manufacturer, 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. These segments are fighter aircraft, submarines and armoured vehicles. In future, additional segments may be added.
Defence Acquisition Council, headed by the Defence Minister, is a decision making body for new planning process of Capital Acquisitions in the long term perspective plan and according ‘in principle’ approval for each Capital Acquisition programme in defence sector.
