Govt. has cleared over 2 lakh cr worth defence acquisition since 2014

The Dollar Business Bureau

India is committed towards modernisation of armed forces with the current government having cleared more than 2 lakh crore worth defence acquisition since it came to power and is resolved to order 3 lakh crore by the end of this financial year, informed Defence Minister Manohar Parrikar while speaking at a seminar organised by FICCI with active participation of the Indian Navy in New Delhi.

The International Seminar on Current and Future Challenges in Design and Construction of Underwater Vehicles had Parrikar commend the Indian Navy for indigenously designing and constructing the advanced front line warships such as destroyers, frigates, anti-submarine warfare corvettes, landing crafts. The armed forces is also constructing an aircraft carrier he said.

The minister shed light on the fact that indigenous content of the latest naval platforms stands at 85-90% which is in line with the “Make in India” initiative announced by the government.

He also referred to the existing 30-year submarine building plan that envisages construction of 24 submarines, including both nuclear and conventional. He said that India needed a longer term plan till 2050 as the existing one ends in 2030.

Parrikar elaborated on the importance of strategic programs wherein he mentioned about RFP for the P75(I) program. Under this, six more submarines will be built with private sector participation and will be under the Strategic Partnership (SP) Model. The chapter on SP is currently being drafted with finalisation expected soon. It will then be cleared by DAC and referred to the cabinet for approval.