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The Defence Acquisition Council (DAC) has been meeting every month and
hope this practice continues, unlike during the previous government,
Defence Minister Arun Jaitley said here Sunday.
Explaining the rationale for recently raising foreign equity in the
sector to 49 percent from the previous 26, he spoke of the impact of the
changes introduced by the National Democratic Alliance (NDA) government.
Jaitley was addressing the India Global Forum conference here.
He said: “We may be opening up a new area of opportunities in the
defence sector. Since I became minister, the DAC meets every month and I
hope the practice will continue.”
“We have followed up our (49 percent) FDI decision by a series of
orders. Earlier, there used to be orders of purchase (from foreign
companies), like that made for 56 transport aircraft. We cancelled that
order and said only Indian companies shall apply,” he said.
According to Jaitley, his short five-month tenure had convinced him the
country could not continue on the path of being only buyer of defence
equipment.
The minister said: “Almost 440 helicopters are to be acquired by the
three services. It has been opened to the public sector also, whereas
the earlier order is only for Indian private companies and joint ventures.”
The Indian armed forces require 440 light utility helicopters which will
now be manufactured indigenously, involving the state-owned HAL and
private sector firms in partnership with foreign players.
Source : India Cannot Remain a Buyer of Defence Equipment: Jaitley | idrw.org
