Capital expenditure on defence purchase from Indian firms goes up

Foreign companies are allowed to have tie-ups with Indian vendors for indigenous production

GN Bureau | August 10, 2017


#defence procurement  
Minister of state for defence, Subhash Bhamre said that the capital expenditure on procurement of defence equipment from Indian vendors has increased from Rs 31,575 crore in 2013-14 to Rs 41,873 crore in 2016-17.
 
Bhamre was speaking on Make in India initiative in the Lok Sabha. He further said that 2014-15 and 2016-17, the government has accorded Acceptance of Necessity (AoN) for 145 proposals worth Rs 3,99,800 crore approximately, out of which 103 proposals worth Rs 2,46,400 crore have been approved.
 
Make in India in defence manufacturing is primarily driven by capital acquisition of defence equipment and other policy measures taken to promote indigenous design, development and manufacture of defence equipment in the country by harnessing capabilities of the public and private sector.
 
These measures include according priority and preference to procurement from Indian vendors under the Defence Procurement Procedure 2016, liberalisation of the licensing regime and FDI policy by raising the cap on FDI in the defence sector.
 
Foreign companies are allowed to have tie-ups with Indian vendors for indigenous production involving Transfer of technology under ‘Buy & Make (Indian)’ and ‘Buy & Make’ categories of capital acquisition.
 
 

Comments

 

Other News

Mumbai`s stalled building projects: Is self-redevelopment the real solution?

Land in Mumbai city, which is surrounded by water on three sides, is scarce and has a premium. Property prices in certain areas of financial capital of the country are as much as Rs 1 lakh per sq ft. Yet, 5,800 buildings have been lying in a stalled condition for the last 18 years. Meanwhile

Revadi, electoral reforms and fiscal responsibility

Revadi (sweetmeat) or more popular word, ‘freebies’, has been dominating headlines recently. A public interest litigation (PIL) has been filed in Supreme Court to bar all political parties from making such promises. In response, one leading political party, Aam Aadmi Party (AAP), has filed thei

Jal Jeevan Mission: 6.70 crore households provided with tap water connections

Since August 2019, Government of India, in partnership with States, is implementing Jal Jeevan Mission (JJM) to make provision of potable tap water supply every rural household by 2024. As many as 6.70 crore households have been provided with tap water connections in the 35 months, since Aug

Cloud inclusivity: Ensuring highly regulated organisations are ready for a cloud-first world

Over the last few years, cloud has been able to create a special place for itself amongst fast moving, competitive and growth-led organisations. As the technology became an imperative, it has undoubtedly created unique business opportunities and isbecoming an anchor for innovation for leading businesses gl

1.29 crore voters chose NOTA in five years

None-of-the-above, or NOTA – the option introduced for voters in 2013 when they don’t want to support any of the candidate – has made some progress. In the past five years, NOTA has secured 1,29,77,627 votes in state assembly elections and Lok Sabha election, according to an analysis by t

India committs to reduce Emissions Intensity of GDP by 45% by 2030

India stands committed to reduce Emissions Intensity of its GDP by 45 percent from the 2005 level by 2030 and achieve about 50 percent cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030. The country’s India’s updated Nationally Determined Contributi

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter