L&T signs deal to manufacture artillery guns with Hanwha Techwin
The Dollar Business Bureau Indian multinational conglomerate Larsen & Toubro (L&T) signed a pact with South Korean weapons technology firm Hanwha Techwin for supplying artillery guns to the Indian Army. The deal is estimated to be worth Rs.4.5 billion (around $696.38 million), the two companies said on Friday. Jayant Patil, Head - Defence and Aerospace Wing, L&T, said that the two firms will together manufacture self-propelled howitzer. It will give a boost to the Make-in-India drive, of Prime Minister Narendra Modi, to push the local industry. The Indian Army had selected L&T for supplying 100 such guns, he said, while adding that the deal will be the first one under indigenisation campaign targeted at cutting down the army’s dependence on international imports. The bigger ...
India signs deal with US to buy 145 M777 artillery guns
The Dollar Business Bureau India signed a Letter of Agreement and Acceptance (LOA) on Wednesday with the United States for purchasing 145 M777 ultra-light artillery guns, via foreign military sale (FMS) route. The Union Cabinet has approved the much-anticipated deal on November 17 that would add enormous firepower in the Indian Army, specifically against China on the eastern front. The air portable gun – 155 mm/39 calibre, has a maximum 30 km range and is manufactured by the British multinational company - BAE Systems. Welcoming the inking of the agreement, BAE Systems said in a statement that in the coming weeks the company expects to sign the contract with the US Department of Defence to supply the M777 Howitzers to India. Joe Senftle, Vice President and GM for Weapon Systems, BAE Systems said that the ...
DPP 2016 intends to promote self-reliance in defence
Defence Procurement Procedure (DPP) 2016, which is under final stages of completion, to bring in effective measures to promote indigenization in defence The Dollar Business Bureau Defence Ministry is also coming up with a futuristic defence offset policy, which is in the draft stage To bring down reliance on imports in the defence sector, Ministry of Defence is coming up with a new Defence Procurement Procedure (DPP) 2016, which is currently being finalised. An official information in this regard was given by the Defence Minister Manohar Parrikar in Lok Sabha on Friday. The new DPP will bring into effect measures to promote indigenization and self-reliance in defence. Enabling provisions for utilization and consolidation of Design, Development and Manufacturing infrastructure available in the country are ...
