Ministry of Defence to clear Rs. 5000 crore procurement of “Made in India” Akash missile systems

News:

• The defence ministry is set to clear a Rs 5,000 crore procurement of ‘Made in India’ Akash missile systems for the air force in a contract that will involve significant private sector participation, with companies like Tata Power SED and Larsen & Toubro likely to get major work portions.
• While state-run Bharat Electronics Ltd will be given the main contract under a ‘repeat order’ – the air force has already contracted for eight squadrons of the missile systems out of which two have been inducted.
• Induction of the system, which has an indigenous content of 96% will also benefit a number of small and medium scale industries that have been participating in the programme.

Source: Defence News