The fate of the long awaited procurement of 93,895 close-quarter-battle carbines (CQBs), a deal worth $ 553.33 million which has been put on Fast Track Procurement (FTP), is expected to be sealed on Wednesday by the Defence Acquisition Council (DAC).
The DAC, headed by the defence minister Nirmala Sitharaman, in a meeting scheduled to take place Wednesday will take a decision related to the procurement. These carbines will be made in India under the Make in India initiative.
Speaking to Financial Express Online on condition of anonymity, a senior officer said, “If the DAC clears it today, there is still a long way to go. And it cannot be finalised overnight. The approval by the DAC is basically ‘approval in principle’.” Read More