Defence Ministry Approves Capital Acquisition Proposals Worth Rs 2.23 Lakh Crore for Armed Forces

Defence Ministry Approves Capital Acquisition Proposals Worth Rs 2.23 Lakh Crore for Armed Forces

The defence ministry has given preliminary approval for capital acquisition proposals worth Rs 2.23 lakh crore for the armed forces, including the procurement of Tejas fighters, Prachand light combat helicopters, and the upgrade of Sukhoi-30MKI jets. The aim is to achieve self-reliance and boost domestic industries.

Defence Stocks Rise On Government's Rs 2.23 Lakh Crore Local Acquisition Push

Shares of defence companies rose on Friday after the Defence Ministry said nearly all Rs 2.23 lakh crore projects cleared by the ministry will be sourced through domestic companies.The Defence Acquisition Council, chaired by Defence Minister Rajnath Singh, cleared projects on Thursday that included the procurement of 97 Tejas light combat aircraft for the Air Force and 156 Prachand attack helicopters for the Indian Air Force and Indian Army. The…