The Ministry of Defence (MoD) signed five capital purchase contracts on Friday, totalling Rs 39,125.39 crore, for MiG-29 fighter aircraft aero-engines, high-power radars, ship-borne Brahmos systems, and close-in weapon systems, as per the release of the government.
These deals will further strengthen indigenous capabilities, save foreign exchange and reduce dependency on foreign origin equipment manufacturers,”
the defence ministry said in a statement.
Two of these agreements, one for over 200 BrahMos supersonic cruise missiles valued at Rs. 19,518.65 crore and the other for BrahMos systems mounted on ships valued at ₹988.07 crore, were inked with BrahMos Aerospace Private Limited. The Prime Minister Narendra Modi-led Cabinet Committee on Security has approved these agreements to boost India’s naval power. Russia and India are the countries that created the BrahMos missile.
The statement said that the Defence would use these missiles to fulfill its training and combat needs. An estimated 135 lakh man-days will be employed in supporting industries and 9 lakh man-days in the joint venture entity as a result of this project. The Indian Navy’s main weapon for maritime attack operations is the ship-borne BrahMos system, which is installed on several front-line warships. Over the next 7-8 years, this project is expected to create over 60,000 man-days of employment.
The Contracts were exchanged in the presence of Raksha Mantri Shri Rajnath Singh and Defence Secretary Shri Giridhar Aramane, under whose guidance these deals fructified.
The contracts have been signed under the vision of the Defence Minister, Raj Nath Singh, and Defence Secretary Shri Giridhar Aramane while keeping in mind all the aspects of defence.
Over the past five to six years, India has increased its attention to the defence manufacturing industry and implemented several initiatives to become self-sufficient. These include raising foreign direct investment from 49% to 74%, enhancing the ease of doing business, banning many weapons, systems, and parts, and separating the budget for locally made military hardware.
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