New Delhi: Signaling the end of defence PSU Hindustan Aeronautics' monopoly in the domestic aerospace arena, the Modi government on Saturday gave the formal nod for the Indian private sector to tie up with a foreign collaborator to supply 56 transport aircraft to the IAF.
TOI on Wednesday had reported that the defence acquisitions council (DAC), chaired by defence minister Arun Jaitley, would clear the proposed Rs 13,000 crore project in its meeting on Saturday.
The project had been put on hold by the previous UPA regime after the then heavy industries & public enterprises minister Praful Patel and the strong PSU lobby in October 2013 had vehemently opposed the move to virtually keep state-run units like HAL and BEML out of the mega programme.
But brushing all this aside, Jaitley on Saturday said the project, under which the selected foreign aviation company will partner with an Indian Production Agency (IPA), would help make the Indian private sector "a player" in aircraft-manufacturing and lead to "capacity-building" domestically.
19/07/14 Rajat Pandit/Times of India
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TOI on Wednesday had reported that the defence acquisitions council (DAC), chaired by defence minister Arun Jaitley, would clear the proposed Rs 13,000 crore project in its meeting on Saturday.
The project had been put on hold by the previous UPA regime after the then heavy industries & public enterprises minister Praful Patel and the strong PSU lobby in October 2013 had vehemently opposed the move to virtually keep state-run units like HAL and BEML out of the mega programme.
But brushing all this aside, Jaitley on Saturday said the project, under which the selected foreign aviation company will partner with an Indian Production Agency (IPA), would help make the Indian private sector "a player" in aircraft-manufacturing and lead to "capacity-building" domestically.
19/07/14 Rajat Pandit/Times of India
