Defence Acquisition Council (DAC) on Thursday gave formal approval to execute the Navy’s Project-75I for six advanced submarines worth ₹40,000 crore through the Strategic Partnership (SP) model of the Defence Procurement Procedure.
This is a conversion of the project from the earlier approval and under the SP route an Indian private strategic partner will tie up with a foreign manufacturer to manufacture submarines domestically through technology transfer.
This is the second project approved under the SP model after the 111 Naval Utility Helicopters. The DAC has also approved procurement of 5,000 Milan Anti-Tank Guided Missiles for the Army.
