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Indian Navy boosts indigenisation efforts with Rs 2,200 crore projects
Millennium Post Delhi
|October 23, 2024
NEW DELHI: The Indian Navy has intensified its push towards indigenisation, securing a total of 22 Acceptance of Necessity (AoN) approvals, valued at approximately Rs 2,200 crore, officials confirmed on Tuesday.
This marks a significant milestone in the Navy's ongoing efforts to bolster domestic manufacturing capabilities and reduce reliance on foreign imports. Out of these approvals, 13 have already been converted into acquisition contracts worth Rs 1,194 crore.
The AoN approvals are part of the Navy's larger strategy to support the government's 'Aatma Nirbhar Bharat' (self-reliant India) initiative. This move is designed to ensure that the country develops its own defence production capabilities, while simultaneously creating employment and fostering economic growth within the Micro, Small and Medium Enterprises (MSME) sector.
This story is from the October 23, 2024 edition of Millennium Post Delhi.
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