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Indian gov't says 50 private companies are producing defense equipment

Xinhua, February 17, 2016 Adjust font size:

The Indian government has said 50 private companies have started production of defense hardware after it opened the military equipment industry to private players.

"Out of the 319 licences issued to 190 companies, some 79 licences of 50 companies have entered production stage," Indian Defense Secretary (Production) A.K. Gupta said in Mumbai Tuesday.

He added: "Most of these private companies have been operational for the past 18 months or so."

Talking about the new Defence Procurement Policy, Gupta said it will be effective from April and will have a new offset clause that will give freedom to change the sourcing model and local partner.

"We will also have more friendly and practically feasible bidding norm wherein the overriding criterion will not be the cost alone. We will also stress on quality, safety and durability," he said. Endit