Published 16:31 IST, September 28th 2020
Rajnath Singh unveils new Defence Acquisition Procedure
Defence Minister Rajnath Singh on Monday unveiled a new Defence Acquisition Procedure (DAP) with a focus on significantly boosting indigenous production and turning India into a global manufacturing hub of weapons and military platforms.
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Defence Minister Rajnath Singh on Monday unveiled a new Defence Acquisition Procedure (DAP) with a focus on significantly boosting indigenous production and turning India into a global manufacturing hub of weapons and military platforms.
Singh said the DAP has also included provisions to encourage foreign direct investment (FDI) to establish manufacturing hubs both for import substitution and exports while protecting the interests of Indian domestic industry.
Happy to unveil the new Defence Acquisition Procedure (DAP)-2020 Document today. The Formulation of DAP 2020 has been done after incorporating comments and suggestions from a wide spectrum of stakeholders. pic.twitter.com/quRiyAKY3W
— Rajnath Singh (@rajnathsingh) September 28, 2020
Under the new policy, the offset guidelines have also been revised facilitating preference to defence majors offering to manufacture products in India over relevant components.
The Offset guidelines have also been revised, wherein preference will be given to manufacture of complete defence products over components and various multipliers have been added to give incentivisation in discharge of Offsets.
— Rajnath Singh (@rajnathsingh) September 28, 2020
He said the DAP has been aligned with the vision of the government's 'Aatmanirbhar Bharat' (self-reliant India) initiative and to empower Indian domestic industry through 'Make in India' projects with the ultimate aim of turning India into a global manufacturing hub.The policy also provides for single stage accord of AoN (Acceptance of Necessity) in all cases up to Rs 500 crore to cut delays in approval of acquisition proposals.
(Image Credits:PTI)
16:26 IST, September 28th 2020