This includes procurement of 21 MIG-29 along with upgradation of existing 59 MIG-29 aircraft and procurement of 12 Su-30 MKI aircraft
Defence Acquisition Council (DAC) on 2 July 2020 approved capital acquisition of several frontline fighter jets, missile system and several platforms at a cost of Rs 38,900 crore.
This includes procurement of 21 MIG-29 along with upgradation of existing 59 MIG-29 aircraft and procurement of 12 Su-30 MKI aircraft.
While the MIG 29 procurement and upgradation from Russia is estimated to cost Rs 7,418 crore, the Su-30 MKI will be procured from Hindustan Aeronautics Limited (HAL) at an estimated cost of Rs 10,730 crore.
The approved clearance also includes Pinaka ammunitions, BMP armament upgrades and software defined radios for the Indian Army, Long Range Land Attack Cruise Missile Systems and Astra Missiles for the Indian Navy and Indian Air Force (IAF).
While acquisition of Pinaka missile systems is said to raise additional regiments over and above the ones already inducted, addition of Long Range Land Attack Missile Systems having a firing range of 1,000 kilometres to the existing arsenal will bolster the attack capabilities of the Navy and the Air Force.
Similarly induction of Astra Missiles having Beyond Visual Range capability will serve as a force multiplier and immensely add to the strike capability of the Navy and Air Force.
The equipment are going to be manufactured in India involving Indian defence industry with participation of several MSMEs as prime tier vendors.
The indigenous content in some of these projects is up to 80 per cent of the project cost.
A large number of these projects have been made possible due to Transfer of Technology (ToT) by Defence Research and Development Organisation (DRDO) to the indigenous industry.