The Defence Acquisition Council chaired by Defence Minister Manohar Parrikar on Thursday finalised the annexure chapters of the Defence Procurement Procedure (DPP).
Now, a chapter on strategic partnership remains to be added to the DPP, which has been uploaded on the defence ministry website.
The chapter will require the approvals of the finance ministry and the Cabinet Committee on Security.
India announced its new weapons procurement policy on March 28 and it came into effect from April 1. It will supersede the 2013 DPP and is aimed at boosting the 'Make in India' initiative.
The revised DPP has a new category of 'Buy Indian - Indigenous Design Development and Manufacturing (IDDM)'. Defence products bought under IDDM will require 40 percent indigenous content if their design too is indigenous. Otherwise, it will require 60 percent indigenous content.
--IANS
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