Giving a major boost to India's defence preparedness, the Government on Saturday cleared defence projects amounting to 80,000 crore rupees.
The projects were approved during the meeting of the Defence Acquisition Council (DAC) ,chaired by Defence Minister Arun Jaitley.
Among the decision taken by the council today, the list includes building six submarines indigenously at a cost of about 50,000 crore rupees.
It also decided to purchase 8,356 Israeli anti-tank guided missiles at a cost of 3,200 crore rupees for Indian Army.
Reports also indicate that the council finalised to purchase 12 upgraded Dornier surveillance aircraft from Hindustan Aeronautics Limited (HAL) at a cost of 1,850 crore rupees.
The DAC also decided to buy 362 infantry fighting vehicle at a cost of 662 crore rupees.
The decision to manufacture the submarines in the country is in line with Prime Minister Narendra Modi's Make in India pitch.
The meeting was also attended by Defence Secretary R K Mathur, the Chiefs of all three services, DRDO Chief and other senior officials.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app