NEW DELHI: In a landmark step, India on Thursday, March 16, 2023, approved the capital acquisition of indigenously-developed military hardware worth Rs70,584 crore as part of a mega procurement plan that is expected to significantly strengthen domestic defence manufacturing.

The Defence Acquisition Council (DAC), which is presided over by Defence Minister Rajnath Singh, gave its assent to the acquisition proposals, official said.

The approval of the new procurement proposals comes in the midst of a standoff with China that has lasted almost three years along the Line of Actual Control in eastern Ladakh.

For capital purchases totaling Rs. 70,584 crore, the Defence Acquisition Council granted Acceptance of Need (AoN), and all purchases will be made under the Purchase (Indian-Indigenously Designed, Developed, and Made) category.
The total approval granted for capital acquisition in the fiscal year 2022-23 now stands at Rs.2,71,538 crore, out of which 98.9 percent will be sourced from Indian industries, the officials added.

 "Such amount of indigenous buying will not only invigorate the Indian industry towards reaching the aim of "Aatmanirbhar Bharat" (self-reliant India), but it will also significantly lessen India's dependence on foreign suppliers" Defence Minister Rajnath Singh's office said.

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