Daily Archives: December 22, 2022

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.

Fincantieri bags contract to supply Naval Hydro-Oceanographic ship

Fincantieri Hydro-Oceanographic Naval Unit (NIOM): Italian shipbuilder Fincantieri has signed a contract with the General Secretariat of Defense and National Arms Direction – Naval Armaments Direction (NAVARM), for realization of a new Hydro-Oceanographic Naval Unit Major (NIOM) intended for the Hydrographic Institute of the Navy, with delivery scheduled in 2026 at the integrated yard of Riva Trigoso-Muggiano.