Defense Deal got sealed!
Capital procurement of defense equipment is made from various indigenous as well as foreign sources. Contracts are signed after obtaining approval of Competent Financial Authority in accordance with the provisions of Defense Procurement Procedure-2013, India.
During 2014-15, 18 contracts have been signed between May 2014 and February 2015 with foreign vendors including those from USA, Russia, Israel, Germany, France and UK for procurement of items such as Missiles, Rockets and Simulators. These contracts are executed as per terms and conditions incorporated therein.
The 18 contracts were signed by designated officers as per provisions of DPP 2013 which do not require the presence of Defense Minister at the signing.
