With the objective of attracting foreign and Indian capital into the local defence industry in a seamless manner, Defence Minister Rajnath Singh on Friday approved proposals to publish relevant details of planned procurements on the defence ministry website.
Announcing this here, defence ministry officials said this step will propel ‘Ease of Doing Business’ and increase transparency in capital acquisition process.
They said the Defence Industry has regularly pitched for providing greater access to the details of planned procurements especially with regard to cost, quantity, offsets, trials and transfer of technology which are being envisaged at the Acceptance of Necessity (AoN) stage.
To promote ‘Ease of Doing Business’ and provide more transparency in capital acquisition process, aligning with the aspirations of industry, the defene minister approved a proposal mandating the Service Headquarters to publish the relevant details on the Service Headquarters and the defence ministry website within one week of receipt of approvals. The details shared will be subject to sensitivities keeping the security aspect in mind.
This is an important step towards greater transparency and information symmetry and will provide an opportunity to the additional vendors, who did not respond to the Request for Information (RFI) but wish to express interest for receipt of RFP and submission of bid.
This timely visibility will enable the industry to plan technology tie-ups with Original Equipment Manufacturers (OEMs), initiate the process to set up production lines and augment production capacity in anticipation of the orders likely to be placed.