• UGI USER
  • Jul 07, 2024
  • 11 Likes
  • 0 Comments

“INDIA’S DEFENCE PRODUCTION HITS RECORD HIGH, GROWS 16.7% IN 2023-24”

Why in the news?

  • India’s indigenous defence production reached a record high of Rs 1.27 lakh crore in 2023-24, reflecting a 16.7% growth.
  • Defence Minister Rajnath Singh emphasised the government’s commitment to making India a leading global defence manufacturing hub.
source:mod

About Defense Acquisition Council (DAC):

  • Purpose: Highest decision-making body in the Defence Ministry for new policies and capital acquisitions.
  • Scope: Covers the Army, Navy, Air Force, and Indian Coast Guard.
  • Chairman: Minister of Defence.
  • Formation: Established in 2001 following the Group of Ministers’ recommendations on ‘Reforming the National Security System’ post Kargil War (1999).
Present Legal Framework for Defence Policies:

  • Industries (Development and Regulation) Act, 1951
  • Indian Army Act 1950,
  • India Air Force Act 1950,
  • Indian Navy Act 1957
  • FDI policy and regulations under FEMA, 1999
  • Defense Procurement procedure, 2016
  • Department of Industrial Policy and Promotion (DIPP).

Associated Article:

https://universalinstitutions.com/defence-acquisition-council/