The government is all set to roll out the process for the Rs 60,000-crore submarine programme, moving swiftly after unveiling a major policy for defence manufacturing in the country. The Defence Ministry is likely to issue the Expression of Interest for the project soon, to kick start the process for mega deal, official sources said. The government will subsequently initiate the process to shortlist the foreign original equipment manufacturers (OEMs) for the project based laid down norms in the strategic partnership model. The project P-75 (I) will be a follow-on project of Project 75. As per the framework, to manufacture major defence platforms, the select Indian companies will require tie-ups with OEM for transfer of technology (ToT).

Source: dna June 11, 2017 07:43 UTC