The New Defence Acquisition Policy came into force from Sunday. It allows companies to gain access to a potential 100 billion market over the next 10 years. The policy allows Indian firms to bid for large Defence contracts. Our correspondent adds that New Delhi is keen to increase the role of its private sector, which holds around 20 percent of the Defence industry market and has the potential to grow significantly. According to Defence ministry sources, the field is now open for the private sector to come and bid for any project along with the world's best. The government is giving them an opportunity to expand their capabilities. Local companies are free to bid for projects involving tanks, artillery and aircraft <br/>
News On AIR | November 1, 2009 4:57 PM
New Defence Acquisition Policy comes into force