Catching up with China: India clears defence procurement worth over $10 billion
India clears defence purchase worth over $10 billion: India’s apex defence procurement body, the defence acquisition council (DAC) has approved the acceptance of necessity for 24 capital acquisition process worth $10.18 billion (INR 84,328 crores) for the country’s military and Indian coast guard, saying that majority of the procurement (over 97%) will be from the local defence companies and vendors.