New Delhi [India] Jan 16 (ANI): The Defence Acquisition Council (DAC) on Tuesday cleared the procurement of 72,400 assault rifles and 93,895 carbines worth Rs 3,547 crores in order to meet an immediate requirement of the troops deployed along the borders.
The DAC, chaired by Union Defence Minister Nirmala Sitharaman, met earlier in the day and simplified 'Make-II' procedure, which prescribes guidelines to be followed to develop and manufacture defence equipment through Indian industry.
Considering that no government funding is involved in 'Make-II' project, the DAC simplified the procedure to make it industry-friendly, with minimal government control.
The salient aspects of the revised procedure will now allow MoD to accept suo-moto proposals from the industry and also allow start-ups to develop equipment for the Indian Armed Forces.
The minimum qualification criteria to participate in Make-II projects has also been relaxed by removing conditions related to credit rating and reducing financial net worth criteria.
There will be no foreclosure of projects after it is sanctioned, except on default by the vendor to ensure that the successful vendor has assured orders, a statement said. (ANI)