Akash surface to air missile on display at DefExpo18 (Staff Photo)

The Indian Defense Ministry has signed two-thirds of defense contracts with local vendors in the past three years.

During the last three years and current year (up to June, 2018) out of total 168 contracts, 106 contracts have been signed with Indian vendors for procurement of defence equipment for Armed Forces such as helicopters, radar, ballistic helmets, artillery guns, simulators, missiles, bullet proof jackets, electronic fuzes, and ammunition, Indian Minister of State for Defense, Dr. Subhash Bhamre said in a written reply in the Parliament Monday.

Capital procurement of defence equipment is carried out as per the extant Defence Procurement Procedure (DPP). DPP-2016 focuses on institutionalizing streamlining and simplifying defence procurement procedure to give boost to ‘Make in India’ initiative of the Government of India, by promoting indigenous design, development and manufacturing of defence equipment, platforms, systems and sub-systems.

Government has also promulgated the policy of Strategic Partnership in the Defence Sector which encourages participation of the private sector in manufacture of major defence platforms and equipment in four selected segments viz. Submarines, Fighter Aircraft, Helicopters and Armoured Fighting Vehicles / Tanks, the statement read.