logo
DAC approves defence procurement proposals worth Rs 1.05 lakh crore under ‘Buy Indian-IDDM'

DAC approves defence procurement proposals worth Rs 1.05 lakh crore under ‘Buy Indian-IDDM'

Time of India10 hours ago
The
Defence Acquisition Council
(DAC), chaired by Defence Minister
Rajnath Singh
, on Thursday approved Acceptance of Necessity (AoN) for 10 capital acquisition proposals worth approximately Rs 1.05 lakh crore. All proposals have been cleared under the 'Buy (Indian-IDDM)' category to promote domestic defence manufacturing.
According to the
Ministry of Defence
(MoD), the approvals include procurement of
Armoured Recovery Vehicles
,
Electronic Warfare Systems
, Integrated Common
Inventory Management
Systems for the Tri-Services, and
Surface-to-Air Missiles
. These acquisitions are aimed at enhancing mobility, air defence capabilities, and improving logistical efficiency for the Armed Forces.
The DAC has also given nod to the procurement of Moored Mines, Mine Counter Measure Vessels, Super Rapid Gun Mounts, and Submersible Autonomous Vessels for the Navy. These systems are expected to strengthen maritime safety by reducing threats to naval and merchant vessels.
The ministry stated that the decision aligns with the government's focus on indigenisation and self-reliance in the defence sector. All proposals have been cleared under the Buy (Indian–Indigenously Designed Developed and Manufactured) category, ensuring involvement of Indian vendors and encouraging development within the domestic defence ecosystem.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

BJP leader seeks govt assistance to rain-hit farmers
BJP leader seeks govt assistance to rain-hit farmers

Time of India

timean hour ago

  • Time of India

BJP leader seeks govt assistance to rain-hit farmers

Pic: Former ZP member and former president of the BJP district unit, Siddaraj Kalkoti, handed over a petition to ADC L Nagaraj to address various demands of farmers on Thursday in Haveri Haveri: Former zilla panchayat member and ex-president of the BJP district unit, Siddaraj Kalkoti, urged the govt to provide assistance to farmers in Haveri taluk who were affected by heavy rainfall over the past two months. After submitting a memorandum to the additional deputy commissioner in Haveri on Thursday, he spoke to reporters about the agricultural communities across the district, including Haveri taluk, impacted by heavy rain. Farmers initiated the sowing of crops like maize, soybean, cotton, and groundnut during the pre-monsoon. The continuous rainfall and heavy showers during April, May, and June caused yellow disease and rot in the planted crops. "The crops were completely destryed in approximately 19 villages near Haveri taluk, including Handiganur, Kittur, Koradur, Melmuri, Halagi, Marol, Maradur, Negalur, Akkur, and others. Numerous farmers are currently incorporating their damaged crops back into the soil using tractors and bullocks," he shared. He highlighted that farmers invested more than Rs 10,000 per acre towards seeds, fertilisers, and labour expenses. Their agricultural investments proved unproductive, causing financial difficulties due to existing loans. The circumstances require swift govt action. Farmers need to begin fresh sowing during the monsoon, but lack financial resources. "The govt should conduct damage assessment and provide interim compensation of at least Rs 10,000 per acre. Additionally, authorities should facilitate the insurance claim process to ensure farmers receive their entitled compensation," Siddaraj demanded. The BJP leader pointed out additional concerns about farmers receiving poor quality seeds with low germination rates and a fertiliser shortage in the district. These problems need immediate resolution to prevent further farmer hardships. Haveri district presently has the highest farmer suicide rate in the state. "Govt intervention is essential to restore farmer confidence and prevent such tragic outcomes," he urged.

Shapoorji Pallonji Group unit eyes $300 million share-backed loan, sources say
Shapoorji Pallonji Group unit eyes $300 million share-backed loan, sources say

The Hindu

timean hour ago

  • The Hindu

Shapoorji Pallonji Group unit eyes $300 million share-backed loan, sources say

Shapoorji Pallonji and Co., the construction arm of conglomerate Shapoorji Pallonji Group, is in talks with bankers to raise around $300 million to refinance existing debt, three sources familiar with the matter told Reuters on Thursday (July 4, 2025). The company may look to raise the funds in Indian rupees, and the loan would be backed by shares of Afcons Infrastructure , along with some other real estate assets, the sources added. Two of the sources further added that the debt to refinanced is owed to HDFC Bank, while it will look to avail the loan at around 15%, but the details are yet to be finalised. The company did not immediately reply to a Reuters email seeking comment. According to ICRA, the company had taken a term loan of around 22.50 billion rupees ($263.14 million) from HDFC Bank in March 2022.

Party wants others to get a chance, friends with Punjab CM Bhagwant Mann since 1992: Kuldeep Singh Dhaliwal
Party wants others to get a chance, friends with Punjab CM Bhagwant Mann since 1992: Kuldeep Singh Dhaliwal

Time of India

timean hour ago

  • Time of India

Party wants others to get a chance, friends with Punjab CM Bhagwant Mann since 1992: Kuldeep Singh Dhaliwal

Chandigarh: Following his resignation from the Punjab cabinet, AAP's Ajnala MLA Kuldeep Singh Dhaliwal said that he promptly submitted his resignation when chief minister called him for a meeting on Thursday morning, citing the party's decision to give others a chance. Tired of too many ads? go ad free now Dhaliwal also asserted his long-standing friendship with Mann, dating back to 1992. Asked about the specific reason for his departure, Dhaliwal indicated, "The party high command can tell you better…I was told that someone else has to be given a chance and I submitted by resignation. My personal view is that Sanjeev Arora will do a better job with the NRI affairs department. I feel that all capable leaders of the party should get a chance to become a minister. I am not after ministerial portfolios. I will continue to be a faithful worker of the party. " Addressing questions about whether his style of functioning contributed to the previous changes in his portfolios before his eventual exit, Dhaliwal said, "The portfolios don't matter. I relentlessly worked for whatever charge was assigned to me. I can continue work for the state even without a cabinet berth. For me, welfare of Punjab is the priority. The party has 95 MLAs and others should also get a chance. The party will give a responsibility elsewhere in the organisation. " He elaborated on the sequence of events, "The chief minister called me on Thursday morning, and he informed me when I met him. The party high command must have taken the decision to give someone else a chance… I am still a close friend of CM Mann and I did not join politics because he is my friend. I joined AAP as it is the best platform to bring about a change. Tired of too many ads? go ad free now I have no grouses as I did not come back from the US to become a minister. I did not take a single day off." Dhaliwal also highlighted his achievements during his ministerial tenure, stating, "My family lives in California. I gave up my US citizenship to come back for the sake of Punjab in 2013. The chief minister and the party gave me the opportunity to be a part of the govt for 3.5 years. In just one year, I managed to free 11,000 acres of common land in Punjab's villages, which was worth Rs 2,700 crore. I settled 4,000 disputes of the NRIs. I fought the last Lok Sabha election from Amritsar when the party asked me to do so." BOX Style will remain same: MLA Replaying to a question, AAP's Ajnala MLA Kuldeep Singh Dhaliwal said, "My style will remain the same. Even an MLA can do a lot for the welfare of people and I will prove it." When further pressed about the reasons for his exit, Dhaliwal said, "The chief minister can tell you better." He also dismissed the notion of his removal being linked to his proximity to the CM, asserting, "I have been close to even Arvind Kejriwal. The CM has to see who is best suited for a cabinet portfolio. " MSID:: 122231009 413 |

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store