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India ring-fences funding for private-sector procurements

by Jon Grevatt

The Indian Ministry of Defence (MoD) has approved a move to ensure that at least 15% of procurement funding is assigned for acquisitions from the country’s private sector.

The approval was confirmed in recent social media posts by Ajay Kumar, Indian MoD defence secretary. The move, he said, is intended to provide a boost for small businesses and start-ups in the Indian defence sector.

“In a landmark decision, the Ministry of Defence [has] decided to earmark part of its budget for direct procurements from [the] private defence industry,” Kumar said in a tweet on 17 April.

The Indian MoD has approved a move to assure funding for procurements from the country’s private sector. The move is expected to strengthen the position of small businesses as suppliers on programmes such as the Tejas light fighter. (HAL)

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https://www.janes.com/defence-news/news-detail/india-ring-fences-funding-for-private-sector-procurements

The Indian Ministry of Defence (MoD) has approved a move to ensure that at least 15% of procurement ...

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