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India Approves $17.3 Billion Defense Acquisitions, Emphasizing Domestic Sourcing

India Approves $17.3 Billion Defense Acquisitions, Emphasizing Domestic Sourcing
Abhishek Sharma
Founder & Editor-in-Chief
Published: 2 min read
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India’s Defence Acquisition Council approved 10 proposals on Tuesday, amounting to a total of 1.45 trillion rupees ($17.3 billion) for the purchase of military assets. These acquisitions include combat vehicles, aircraft, and patrol vessels.

According to a government statement, 99% of these acquisitions will be sourced domestically.

To enhance India’s military capabilities, the Defence Acquisition Council (DAC) has approved a major purchase worth ₹1.45 lakh crore. The approval was granted during a meeting chaired by Defence Minister Rajnath Singh on September 3, with 10 proposals aimed at boosting military strength.

According to the Ministry of Defence, 99% of the cost of these defense equipment proposals will involve items that are designed, developed, and manufactured within India. One of the key approvals includes the modernization of the Indian Army’s tank fleet and the purchase of Future Ready Combat Vehicles (FRCV).

The Ministry of Defence explained that the FRCV, or Future Ready Combat Vehicle, will be a main battle tank designed for high speed, all-terrain mobility, multi-layered protection, precise and lethal firepower, and real-time situational awareness. Additionally, there has been approval for the purchase of air defense fire control radars.

These air defense fire control radars will detect and track aerial targets and provide firing solutions. Approval was also given for Forward Repair Teams (Tracked), which are equipped with cross-country mobility to repair weapons during mechanized operations. These systems are designed and developed by Armored Vehicles Corporation Limited and will be authorized for both mechanized infantry battalions and armored regiments.

The DAC also focused on strengthening the Indian Coast Guard by approving three new AoN (Acceptance of Necessity) proposals. These include the Dornier-228 aircraft, which features high operational capabilities even in adverse weather, and next-generation fast patrol ships. The purchase of these assets will enhance the Indian Coast Guard’s ability to conduct surveillance, patrol maritime areas, and carry out search, rescue, and disaster relief operations.

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Abhishek Sharma
Founder & Editor-in-Chief

Abhishek Sharma

I’m Abhishek Sharma, an Advocate based in Delhi, entrepreneur, investor, and founder of BigBreakingWire. I am an enrolled Advocate with a strong interest in entrepreneurship, media, and technology. I founded BigBreakingWire, a digital news platform covering breaking news, business, financial markets, companies, and important developments in India and around the world. I also have a software company and take an active interest in technology, software, AI, digital products, and new business ideas. As an investor, I’m interested in discovering and investing in promising businesses and startups. I look for good ideas, strong founders, practical business models, and opportunities with long-term potential. I enjoy building businesses, learning about new industries, and connecting with people who are working on interesting ideas and opportunities. Advocate | Entrepreneur | Investor | Founder & Editor-in-Chief, BigBreakingWire

Last reviewed by Abhishek Sharma on September 3, 2024

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