The government of India has approved the procurement of military equipment and state-of-the-art platforms worth 760 billion rupees ($9.78 billion) from local defense firms.
The country’s top procurement body issued an “acceptance of necessity” for the multibillion-dollar military equipment proposal. India’s procurement rules indicate that such an acceptance is the first step toward buying military hardware.
The newly-approved budget will go toward purchasing wheeled armored fighting vehicles and weapon-locating radars, as well as engines for Dornier and Su-30 MKI aircraft.
Additionally, around 320 billion rupees ($4.6 billion) will be used to purchase next-generation corvettes for surveillance missions, Surface Action Group operations, and coastal defense.
“This will provide a substantial boost to the Indian defence industry and reduce foreign spending significantly,” the Indian Ministry of Defence was quoted as saying.
The development is part of the “Make in India” initiative, which aims to boost the domestic manufacturing industry and cut the Asian nation’s dependence on foreign imports for military equipment.
Focus on Maritime Capabilities
A large portion of the $9.8 billion budget will go towards the production and procurement of warships using the “latest technology of ship building.”
The ministry said that the corvettes would be constructed based on a new in-house design by the Indian Navy for improved performance and survivability.
Once deployed, the warships are expected to contribute to the government’s Security and Growth for all in the Region initiative.