Latest news with #Indian-IDDM
Time of India
6 hours ago
- Business
- Time of India
Defence stocks in focus as DAC clears capital acquisition proposals worth over Rs 1.05 lakh crore
Defence stocks will be in focus on Friday after the Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh , approved 10 capital acquisition proposals worth approximately Rs 1.05 lakh crore. All proposals were cleared under the 'Buy (Indian-IDDM)' category, promoting indigenously designed, developed, and manufactured systems to boost domestic defence production. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Is your tinnitus getting worse? Do this immediately (Watch) Hearing Magazine Undo According to the Ministry of Defence (MoD), the approvals include the procurement of Armoured Recovery Vehicles, Electronic Warfare Systems , Integrated Common Inventory Management Systems for the Tri-Services, and Surface-to-Air Missiles . These acquisitions aim to enhance mobility, strengthen air defence capabilities, and improve logistical efficiency for the Armed Forces. Also Read: Suzlon, Adani Ports among 10 stocks that earned upgrades in last 1 month. Check revised target price The DAC has also approved 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 enhance maritime safety by mitigating threats to naval and merchant vessels. Live Events 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 the involvement of Indian vendors and promoting development within the domestic defence ecosystem. Also Read: 10 Nifty smallcaps with up to 29 buy calls; analysts see up to 26% upside ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Economic Times
6 hours ago
- Business
- Economic Times
Defence stocks in focus as DAC clears capital acquisition proposals worth over Rs 1.05 lakh crore
Defence stocks will be in focus on Friday after the Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, approved 10 capital acquisition proposals worth approximately Rs 1.05 lakh crore. ADVERTISEMENT All proposals were cleared under the 'Buy (Indian-IDDM)' category, promoting indigenously designed, developed, and manufactured systems to boost domestic defence production. According to the Ministry of Defence (MoD), the approvals include the procurement of Armoured Recovery Vehicles, Electronic Warfare Systems, Integrated Common Inventory Management Systems for the Tri-Services, and Surface-to-Air Missiles. These acquisitions aim to enhance mobility, strengthen air defence capabilities, and improve logistical efficiency for the Armed Forces. Also Read: Suzlon, Adani Ports among 10 stocks that earned upgrades in last 1 month. Check revised target price The DAC has also approved 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 enhance maritime safety by mitigating threats to naval and merchant 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 the involvement of Indian vendors and promoting development within the domestic defence ecosystem. ADVERTISEMENT Also Read: 10 Nifty smallcaps with up to 29 buy calls; analysts see up to 26% upside (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Hindustan Times
20 hours ago
- Business
- Hindustan Times
DAC clears ₹1.05 lakh crore to boost defence capabilities of Indian armed forces
The defence acquisition council (DAC) on Thursday gave its initial approval to purchase military hardware worth ₹ 1.05 lakh crore to sharpen the capabilities of the Indian armed forces. Defence minister Rajnath Singh with women defence personnel at the Northern Command HQ in Udhampur. (Photo from X) The purchase plans involve minesweepers, quick-reaction surface-to-air missiles and electronic warfare systems to armoured recovery vehicles, the defence ministry said. The DAC, headed by Union defence minister Rajnath Singh, accorded its acceptance of necessity (AoN) to 10 capital acquisition proposals through the indigenous route to boost self-reliance in the defence manufacturing sector, it said. Under India's defence procurement rules, AoN by the council is the first step towards buying military equipment. The acquisition of mine countermeasure vessels (MCMVs) or minesweepers for the Indian Navy at an estimated cost of around ₹ 44,000 crore is the most significant proposal cleared by the DAC — India's apex military procurement body, officials aware of the matter said. The development is significant as the navy currently does not operate even a single minesweeper, with the last in a fleet of six such vessels (bought from the erstwhile Soviet Union in the late 1970s) being decommissioned six years ago. The navy plans to buy 12 MCMVs from Indian shipyards to strengthen its mine-warfare capabilities. Apart from the minesweepers, the DAC also accorded AoN for moored mines, super rapid gun mount and submersible autonomous vessels. 'These procurements will enable mitigation of potential risks posed to the naval and merchant vessels,' the defence ministry said in a statement. The latest attempt to buy the MSMVs comes after at least three failed attempts during the last 17-18 years. Two years ago, the navy indicated that the MSMV order could be split between the lowest and the second-lowest bidding shipyards in the ratio of 8:4. To be sure, the navy will induct the first MSMV at least seven years after a contract is signed, with the remaining to join service over six to seven years thereafter, the officials said, asking not to be named. The quick-reaction surface-to-air missiles cleared by the DAC are expected to cost around ₹ 30,000 crore, HT learns. 'AoN were accorded for procurement of armoured recovery vehicles, electronic warfare systems, integrated common inventory management system for the tri-services and surface-to-air missiles. These procurements will provide higher mobility, effective air defence, better supply chain management and augment the operational preparedness of the armed forces,' the ministry added. The DAC has cleared the proposals under Buy (Indian-IDDM) category. It is the most important category of acquisition for indigenisation under the defence procurement policy. IDDM stands for indigenously designed, developed and manufactured. The council's approval for the new weapons and systems comes at a critical moment as the defence ministry said on June 19 that it has set up a high-powered committee, headed by the director general (acquisition), to steer a comprehensive review of the Defence Acquisition Procedure (DAP) 2020 for speedy modernisation of the armed forces and boosting self-reliance in the critical sector. The panel — including senior officers from the ministry, representatives from the defence industry and academia — is currently holding consultations with the stakeholders and has invited suggestions from them by July 5. The aim of the review, the ministry said, is to meet the operational requirements and modernisation needs of the armed forces in a timely manner to ensure national security and achieve 'atmanirbharta' (self-reliance) goals by promoting technology infusion through indigenously designed and developed systems. It also seeks to boost the Make-in-India initiative by promoting defence manufacturing through facilitation of joint ventures and transfer of technology for the private sector, encouraging foreign original equipment manufacturers to invest in the country and establish India as a global defence manufacturing and MRO (maintenance, repair and overhaul) hub.
Time of India
a day ago
- Business
- Time of India
DAC approves defence procurement proposals worth Rs 1.05 lakh crore under ‘Buy Indian-IDDM'
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.
