‘These proposals are worth Rs 1.6 lakh crore and are indigenous projects,’ according to the official statement. HAL is the domestic supplier of Tejas and Prachanda aircraft.
The Ministry of Defence on November 30 accorded an initial approval to procure an additional batch of 97 Tejas light combat aircraft and around 150 Prachand helicopters and other equipment for a mega deal worth Rs 2.23 lakh crore to boost the overall combat capability of the armed forces.
“Defence Acquisition Council approves capital acquisition proposals worth Rs 2.23 lakh crore to enhance the operational capabilities of the Armed Forces 98 percent to be sourced from domestic industries in a major boost to ‘Aatmanirbharta’ in defence. Procurement of Light Combat Helicopters & Light Combat Aircraft Mk 1A from HAL gets a nod. Medium Range Anti-Ship Missiles for surface platform of Indian Navy accorded approval. Acquisition of Towed Gun System cleared to replace Indian Field Gun,” according to the official statement.
Meanwhile, shares of HAL closed 1.65 percent higher at Rs 2,382.30 after soaring over 4 percent intra-day, while Cochin Shipyard ended close to 4 percent higher at Rs 1,206 apiece on BSE.
The development comes amid crucial meeting scheduled to be held by Defence Minister Rajnath Singh. This project, estimated to cost around Rs 55,000 crore, aims to supplement the existing fleet of 83 Tejas jets.
The new carrier, which can hold at least 28 fighter jets and helicopters and displaces 45,000 tons of water — a measure of size for ships, will be flying the French Rafale jets, Bloomberg had reported earlier citing sources. India’s first homemade carrier, INS Vikrant, joined the fleet last year and was built by Cochin Shipyard Ltd. The country also has a Russia-made aircraft carrier.
The report also mentioned that India plans to have 160 warships by 2030 and 175 by 2035 at an estimated cost of Rs 2 lakh crore. More than 60 vessels of the Indian Navy are currently at various stages of construction, it added. The country is carrying out more warship patrols than ever before amid growing concerns over China’s rising naval prowess.
India has also upgraded the runway facilities at the Andaman and Nicobar Islands allowing the aircrafts to land at night, Bloomberg further reported.
