Tanks, missiles, fighter planes... Approval for the purchase of military equipment worth more than 76 thousand crores

New Delhi: In a significant move, the Defense Ministry on Monday approved procurement of military equipment and other equipment worth Rs 76,390 crore from domestic industries. The Ministry said in a statement that the Defense Acquisition Council (DAC) headed by Defense Minister Rajnath Singh approved these proposals.

For the Indian Navy, the DAC approved procurement of Next Generation Corvettes (NGCs) at an estimated cost of around Rs 36,000 crore, the ministry said. A corvette is a type of small vessel.

According to the ministry, these NGCs will be useful for various roles including surveillance and assault. The NGC will be built on the basis of the Indian Navy's new 'in-house design' and will use the latest technology of shipbuilding, the statement said.

The DAC also approved a proposal by Hindustan Aeronautics Limited to manufacture Dornier aircraft and Su-30MKI aero-engines with a view to promoting indigenisation.

The DAC has given fresh approval for procurement of Anti-Tank Guided Missiles (ATGMs) and other weapons from domestic sources along with Tough Area Friendly Trucks (RTFLTs), Special Tanks (BLTs) etc., for the Indian Army.