Finance
In a significant push towards enhancing India’s indigenous defence capabilities and fostering a robust domestic aerospace industrial ecosystem, Raksha Mantri Shri Rajnath Singh has approved the Advanced Medium Combat Aircraft (AMCA) Programme Execution Model. The Aeronautical Development Agency (ADA) is set to execute the programme through Industry partnership.
The Execution Model approach provides equal opportunities to both private and public sectors on competitive basis. They can bid either independently or as joint venture or as consortia. The entity/bidder should be an Indian company compliant with the laws and regulations of the country.
This is an important step towards harnessing the indigenous expertise, capability and capacity to develop the AMCA prototype, which will be a major milestone towards Aatmanirbharta in the aerospace sector.
ADA will shortly issue an Expression of Interest (EoI) for the AMCA Development Phase.
Source: PIB
