New draft defence procurement policy soon

By: | Published: March 23, 2018 7:00 AM

The defence ministry is likely to put out a new draft procurement policy soon for public consultation with features that will make it more attractive to private investors.

defence ministry, draft defence procurement policy, private investorsStart-ups or individuals can also suggest changes that would help them,” an industry source said.

The defence ministry is likely to put out a new draft procurement policy soon for public consultation with features that will make it more attractive to private investors. “The industry can suggest projects, especially among those items which are currently being imported. Start-ups or individuals can also suggest changes that would help them,” an industry source said. The Defence Procurement Procedure (DPP)-2016 had come into effect from April 2016 with a view to institutionalising, streamlining and simplifying defence procurement procedure to give a  boost to the Make in India initiative.

The DAC has accorded approval to 136 capital procurement cases at an estimated cost of Rs 4,00,714 crore during 2014-15, 2015-16 and 2016-17 (up to January 2017). Of these, 96 cases involving Rs 246,417 crore are under the ‘buy (Indian-IDDM)’, ‘buy (Indian)’, ‘buy & make (Indian)’, ‘make’ categories.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition