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Ministry Of Defence Signs Five Major Contracts Worth Rs 39,125.39 Cr To Boost Make-In-India Initiative

Updated: Mar 02, 2024 06:05:02pm

Ministry Of Defence Signs Five Major Contracts Worth Rs 39,125.39 Cr To Boost Make-In-India Initiative

New Delhi, Mar 2 (KNN) In a significant move towards bolstering India's self-reliance in defence, the Ministry of Defence (MoD) inked five pivotal contracts totalling Rs 39,125.39 crore on Friday in New Delhi. 

These contracts mark a pivotal step in advancing the 'Aatmanirbharta in Defence' initiative and fortifying the Make-in-India campaign. 

Under the visionary guidance of Raksha Mantri Rajnath Singh and Defence Secretary Giridhar Aramane, the contracts were exchanged, signalling a firm commitment to strengthening indigenous capabilities and reducing reliance on foreign equipment manufacturers.

A significant portion of the contracts was dedicated to procuring Aero-engines for MiG-29 aircraft from M/s Hindustan Aeronautics Limited (HAL). 

Valued at Rs 5,249.72 crore, this deal will not only sustain the operational readiness of the Indian Air Force (IAF) but also foster indigenisation efforts, crucial for future maintenance tasks. 

Larsen & Toubro Limited secured two contracts worth Rs 7,668.82 crore for CIWS and Rs 5,700.13 crore for HPR. 

These acquisitions will bolster India's air defence capabilities, stimulate domestic aerospace and defence industries, and generate significant employment opportunities.

The Ministry also finalised contracts with BrahMos Aerospace Private Limited (BAPL) for procuring BrahMos missiles (Rs 19,518.65 crore) and Ship-borne BrahMos systems (Rs 988.07 crore). 

These acquisitions are pivotal for enhancing the Indian Navy's combat capabilities, with far-reaching implications for maritime security. 

Over the coming years, they are projected to generate substantial direct and indirect employment opportunities, stimulating growth across various sectors, including MSMEs.

The project is likely to generate employment of around 60,000 man-days over a period of 7-8 years.

The signing of these contracts underscores India's commitment to self-reliance in defence production and showcases the nation's capability to innovate and excel in the global defence arena. 

With a focus on indigenous manufacturing, these initiatives will not only enhance national security but also contribute significantly to economic growth and prosperity.

(KNN Bureau)


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