New Delhi – The Defence Acquisition Council (DAC) has approved defence procurement proposals worth approximately ₹79,000 crore (roughly $9.5 billion) to enhance the capabilities of the Indian Army, Navy, and Air Force, according to multiple reports.
₹79,000 Crore Defence Deals Approved
The approvals include the procurement of missiles, radars, and loiter munitions. The Ministry of Defence stated that these acquisitions will provide a significant boost to the country’s defence preparedness.
- The DAC cleared proposals for the procurement of long-range guided missiles.
- Next-generation radar systems were also given the green light.
- Loiter munitions, designed for precision strikes, are included in the approved acquisitions.
Shares of several defence companies, including Bharat Electronics Limited (BEL), Bharat Earth Movers Limited (BEML), and Paras Defence, experienced a decline following the announcement, falling by up to 2%.
The procurement decisions are aimed at modernizing the armed forces and equipping them with advanced technologies to address evolving security challenges. The Ministry of Defence anticipates that these acquisitions will foster self-reliance in the defence sector.
The approved proposals cover a wide range of equipment, designed to enhance the operational effectiveness of all three branches of the armed forces. Further details regarding specific contracts and timelines are expected to be released in the coming weeks.
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