DAC approved Navy’s proposal to build about 6 submarines. Rs 43,000 Cr
The Defence Acquisition Council (DAC) today approved the Navy’s proposal for construction of six submarines at an approximate cost of Rs 43,000 crore. Defence minister Rajnath Singh chaired the meeting. AIR correspondent reports, this is a landmark approval, being the first case processed under the Strategic Partnership model.
This would be one of the largest Make in India projects and it will create a tiered industrial ecosystem for submarine construction in the country. With this approval, India will be enabled to achieve its 30 year Submarine construction programme envisioned by the Government to acquire national competence in submarine construction.
The availability of new technologies and advanced manufacturing capabilities to Indian Industry will be an important step towards enhancing the nation’s quest for self reliance in modern conventional submarine construction.
It will also create direct and indirect job opportunities in the country. This project provides a unique long-term opportunity and planning certainty for Indian industry to invest and support submarine construction.
It will also infuse the latest technology for submarines in India through strategic tie up between Indian Industry and leading foreign original equipment manufacturers.
DAC also approved Air Defence guns and ammunition for the Army worth Rs 6000 crore under the ‘Buy and Make Indian’ category. This will enable the Armed forces to complete their emergent and critical acquisitions.