Nirmala Sitharaman, the Defence Minister of India, on the 31st of January, approved a project worth Rs. 40,000 crore.
The project will include 6 submarines to strengthen Indian Navy’s Underwater force level and 5,000 Anti Tank Milan 2T missiles for the Indian Army.
A Defence Ministry Spokesperson said, “Construction of six submarines under Project-75I will provide a major boost to the existing submarine design and manufacturing ecosystem in India through transfer of design and equipment technology as well as necessary skill sets.”
The Defence Acquisition Council (DAC) approved the project under the Government’s Strategic Partnership (SP) model of the Defence Procurement Procedure (DPP.)
The DPP is a policy introduced by the Government of India to increase the involvement of private sectors and businessman in the military equipments manufacturing and also to boost ‘Make in India’ scheme.
Under the SP model, an Indian strategic partners will collaborate with a foreign firms to manufacture military defence equipments and enhance Defence sectors with advanced facilities and technology.
