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Rajnath Singh unveils new Defence Acquisition Procedure

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Under the new coverage, the offset pointers have additionally been revised facilitating desire to defence majors providing to fabricate merchandise in India over related elements.

Defence Minister Rajnath Singh on Monday unveiled a new Defence Acquisition Procedure (DAP) with a give attention to considerably boosting indigenous manufacturing and turning India into a worldwide manufacturing hub of weapons and army platforms.

Mr. Singh mentioned the DAP has additionally included provisions to encourage overseas direct funding (FDI) to determine manufacturing hubs each for import substitution and exports whereas defending the pursuits of Indian home trade.

Under the new coverage, the offset pointers have additionally been revised facilitating desire to defence majors providing to fabricate merchandise in India over related elements.

“The offset guidelines have also been revised, wherein preference will be given to manufacture of complete defence products over components and various multipliers have been added to give incentivisation in discharge of offsets,” the defence minister tweeted.

He mentioned the DAP has been aligned with the imaginative and prescient of the federal government’s ‘Aatmanirbhar Bharat’ (self-reliant India) initiative and to empower Indian home trade by way of ‘Make in India’ initiatives with the final word purpose of turning India into a worldwide manufacturing hub.

The coverage additionally offers for single stage accord of AoN (Acceptance of Necessity) in all instances as much as Rs 500 crore to chop delays in approval of acquisition proposals.



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