Defence Ministry clears proposal of Rs 70,500 crore
The defence ministry has cleared proposals by the armed forces to purchase a variety of equipment — from Brahmos cruise missiles to artillery guns, helicopters and long-range stand-off weapons.
All the acquisitions will be undertaken from Indian companies, a majority of them from the public sector.
The Rajnath Singh-led Defence Acquisition Council accorded Acceptance of Necessity (AoN) to projects worth Rs 70,500 crore.
This is the first firm step towards acquisitions, which is followed by the formal tendering process.