DRDO outlines Rs 18,000 cr investment plans

The DRDO has earmarked Rs 18,000 crore as investment plans for the current fiscal, which includes developing the next generation lighter Brahmos missile, a top official said today.

The country's premier defence research institute has allocated about 25-30 per cent for developing new projects during the current financial year, Defence Research and Development Organisation Chairman S Christopher said.

Christopher, who is also Secretary, Research and Development, DRDO, was outlining some of the major initiatives to be taken up during the this fiscal at the ongoing DefExpo.

The defence exhibition was formally inaugurated yesterday by Prime Minister Narendra Modi at Thiruvidanthai, about 40kms from here.

"As far as funding is concerned, for this year it is about Rs 18,000 crore. Nearly 25-30 per cent will be going in for newer projects," he said.

BrahMos Aerospace, CEO and Managing Director, Sudhir Mishra said, "We have a proposal to develop BrahMos next generation missiles which will be termed as BrahMos NG missile."