labels: industry - general
New defence procurement policy to aid domestic armament sector news
30 August 2006

Mumbai: The government has announced new procedures aimed at reducing delays in defence procurement. The new policy also provides for a level playing field for indigenous armament vendors.

The new defence procurement procedures and manual released by defence minister Pranab Mukherjee also proposes measures to boost indigenous research development and production facilities.

The new policy allows for comparison of CIF prices of foreign vendors with indigenous offers - both private and public sector - by deducting excise duty, sales tax and local levies.

The policy also unveiled a fast-tract policy for new weapons procurement - a modified version of the Centre's earlier fast-tract policy. The new policy also makes field trials of weapons systems more transparent.

The new policy is aimed at facilitating faster clearance of defence deals like the acquisition of multi-role combat aircraft which are be in the offing.

 


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New defence procurement policy to aid domestic armament sector