July 31, 2018: The Defence Ministry today approved key guidelines for implementation of an ambitious policy under which select private firms will be roped in to build military platforms like submarines and fighter jets in India in partnership with foreign entities.
The guidelines for carrying out various procurement projects under the Strategic Partnership (SP) model were approved by the Defence Acquisition Council (DAC), the ministry's highest decision making body, officials said.
Unveiled last year, the SP model aims to create a vibrant defence manufacturing ecosystem in the country through joint ventures between Indian corporates and global defence majors.
The officials said the government is looking at achieving a turnover of Rs 1,70,000 crore in military goods and services by 2025.
According to the guidelines, all procurements under the SP Model would be executed by specially constituted Empowered Project Committees (EPC) to provide focussed attention and ensure timely execution.
The guidelines also specified norms for carrying out various sector specific manufacturing projects.
The DAC, chaired by Defence Minister Nirmala Sitharaman, also approved platform specific guidelines for procurement of Naval Utility Helicopters, the defence ministry said.
