Indian defense ministry is likely to come out with a new “simplified and time-bound” defense procurement policy (DPP) by March this year.
Indian Defense Minister Manohar Parrikar speaking at a seminar during the Vibrant Gujarat summit on Sunday said that he has been trying to decode the DPP 2013 for the past two months after he assumed office in November 2014. He said, the new DPP will help smoothen defense procurement.
“There are no clear cut definitions. There is no clarity in defense procurement, especially when there is only one customer (the government),” Parrikar added.
Two companies entered into MoU for manufacturing defense equipment in Gujarat. Bharat Forge has signed an MoU worth $95 million for defense manufacturing (upgrade & overhaul of armoured fighting vehicles).