The Ministry of Defence on Wednesday cleared fresh policy guidelines for selection of shipyards for major warship and submarine building projects of the Indian Navy and Coast Guard, according to government sources.
The policy guidelines which were cleared by Defence Minister Nirmala Sitharaman-led meeting will enable issuing of tenders for projects worth Rs 25,000 crore in the coming year.
The ministry has also taken steps to encourage medium and small shipyards by making only them eligible for small value projects.
In the Defence Acquisition Council meeting held today, projects worth Rs 2355 crores were approved including multimode grenades and fire control systems for the Teg, Talwar and Saryu class of warships.
Disclaimer: No Business Standard Journalist was involved in creation of this content
