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MoD Begins Review of Defence Acquisition Procedure
Defence Ministry begins Review of Defence Procurement Procedure (DAP 2020): New Delhi, India – In a move signalling a determined push for efficiency and self-reliance, India’s Ministry of Defence (MoD) has launched a comprehensive review of its critical Defence Acquisition Procedure (DAP) 2020. This significant undertaking, initiated under the banner of 2025 being declared the ‘Year of Reforms’,…
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India abolishes offset banking in defence deals once again
India abolishes offset banking in defence deals once again
Photo: India’s defence minister Rajnath Singh and defence production secretary Raj Kumar at an ambassadors conclave to promote AeroIndia 2021
New Delhi: Just a week after India‘s new defence procurement rules came into force, the Narendra Modi government today said it has abolished the Banking Offsetprovisions for arms deals with foreign companies worth over Rs 2,000 crore (~$273 million),…
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