New Defence Acquisition Procedure

admin September 28, 2020 Daily Current Affairs

Defence Minister unveiled a new Defence Acquisition Procedure (DAP) with a focus on significantly boosting indigenous production and turning India into a global manufacturing hub of weapons and military platforms.
DAP has also included provisions to encourage foreign direct investment (FDI) to establish manufacturing hubs both for import substitution and exports while protecting the interests of Indian domestic industry.
Under the new policy, the offset guidelines have also been revised facilitating preference to defence majors offering to manufacture products in India over relevant components.
The policy also provides for single stage accord of AoN (Acceptance of Necessity) in all cases up to Rs 500 crore to cut delays in approval of acquisition proposals.