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| Govt announces new Defence Procurement Policy | | |
New Delhi, Aug 30 In a move to cut down delays in armament procurement, the government today unveiled new weapons procurement procedures reintroducing the fast track process in modified form and making field trials of weapons systems more transparent.
The new Defence Procurement procedures and Manual-2006 released by the Defence Minister Pranab Mukherjee for the first time also announced a new 'make' procedure to boost indigenous research development and production facilities.
In a major concession and boost to domestic armament industry - both private and public sector - the new policy has a provision for providing level playing field for indigenous vendors vis-a-vis foreign players by allowing comparision of CIF prices of foreign vendors with indigenous offers by subtracting excise duty, sales tax and local levies.
Through the new policy, the government has also made amplification of the Defence offset implementation policy thereby signalling that international tenders for some of the country's biggest ever defence deals like the acquisition of 126 multi-role combat aircraft may be in the offing. |
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