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MoD Inks ₹39,125.39 Crore Defence Contracts Boosting Atmanirbhar Bharat Initiative

1 Mar 2024 , 03:10 PM

Ministry of Defence (MoD) signed five capital acquisition contracts worth ₹39,125.39 Crore on March 1 in New Delhi under the Atmanirbhar Bharat initiative.

Contracts, endorsed by Defence Minister Shri Rajnath Singh and Defence Secretary Giridhar Aramane, reinforce the Make-in-India initiative and indigenous defence capabilities.

A ₹5,249.72 Crore contract with Hindustan Aeronautics Limited (HAL) for MiG-29 aircraft aero-engines was signed, promoting indigenous manufacturing.

Larsen & Toubro (L&T) secured two contracts; first valued at ₹7,668.82 Crore for close-in weapon system (CIWS) procurement and the second at ₹5,700.13 Crore for high-power radar (HPR), enhancing terrestrial air defence capabilities for the Indian Air Force (IAF).

BrahMos Aerospace Private Limited (BAPL) inked two contracts; the first worth ₹19,518.65 Crore for BrahMos missile procurement for the Indian Navy's combat and training needs, and the second at ₹988.07 Crore for Shipborne BrahMos system, a primary weapon for maritime strike operations.

These contracts are poised to generate employment, boost indigenous capabilities, and decrease reliance on foreign equipment, marking a significant stride toward self-reliance in defence manufacturing and technology.

For feedback and suggestions, write to us at editorial@iifl.com


Related Tags

  • Atmanirbhar Bharat
  • Hindustan Aeronautics Limited
  • Ministry of Defence
  • MoD
  • news
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