Announcing a major amendment in the Defence Procurement Policy, the government today said the Request for Proposal for Defence equipments which was earlier issued only to foreign companies will now be issued to Indian firms as well. The policy which comes in force on Monday focuses on boosting domestic Defence industry. An official release issued in New Delhi today says the manufactured products will be required to have 50 per cent indigenous content. The policy also has provisions to ensure greater transparency and accountability in all Defence purchases. The release adds the under a new Buy and Make (Indian) category, both public and private firms will play a major role in negotiating and obtaining technology and co-production arrangements with the foreign manufacturers.
News On AIR | October 29, 2009 7:19 PM
Defence Procurement Policy amended to boost domestic industry