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Defence Minister Rajnath Singh on Monday released the New Defence Acquisition Procedure (DAP) at the Defence Acquisition Council (DAC) meeting at South Block here."Raksha Mantri Shri @rajnathsingh released the New Defence Acquisition Procedure (DAP) at the Defence Acquisition Council (DAC) meeting in South Block today," read a tweet from the Office of the Defence Minister.It said, The DAP 2020 has been aligned with Prime Minister Narendra Modi's vision of Atmrbhar Bharat and empowering the Indian domestic industry through Make in India initiative with the ultimate aim of turning India into a global manufacturing hub.It further said, "With the new Foreign Direct Investment policy announced, the DAP 2020 has adequately included provisions to encourage FDI to establish manufacturing hubs both for import substitution and exports while protecting the interests of Indian domestic industry.""The categories of Buy (Indian-IDDM), Make I, Make II, Production Agency in Design & Development, OFB/DPSU and SP model will be exclusively reserved for Indian Vendors meeting the criteria of Ownership and Control by resident Indian citizens," said the Defence Minister in another tweet.A new procedure has been included as a new chapter in DAP and structured as an enabling provision for Services to procure essential items through Capital Budget under a simplified procedure in a time bound manner, the Office of the Defence Minister said.The Offset guidelines have also been revised, wherein preference will be given to manufacture of complete defence products over components and various multipliers have been added to give incentivisation in discharge of Offsets, it added.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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National :Rajnath Singh releases New Defence Acquisition Procedure

Defence Minister Rajnath Singh on Monday released the New Defence Acquisition Procedure (DAP) at the Defence Acquisition Council (DAC) meeting at South Block here. ...