Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Politics / Policy/  CCS nod to Rs1,000 crore deal for procuring Barak missiles
BackBack

CCS nod to Rs1,000 crore deal for procuring Barak missiles

The missiles would be deployed on Navy's aircraft carriers that are sans air defence missile systems to target an incoming enemy aircraft or missile

The missiles are to be put on board aircraft carrier INS Vikramaditya and INS Virat — Navy’s two operational warships which have been without air defence cover. Photo: Alexey Popov/Wikimedia CommonsPremium
The missiles are to be put on board aircraft carrier INS Vikramaditya and INS Virat — Navy’s two operational warships which have been without air defence cover. Photo: Alexey Popov/Wikimedia Commons

New Delhi: Government is understood to have cleared a deal expected to be worth over Rs1,000 crore for procuring Barak missiles from Israel whose acquisition was pending for over last five years in view of a CBI probe.

The Cabinet Committee on Security (CCS) is understood to have cleared the deal for procuring the Israeli air defence missiles which would be deployed on Navy’s aircraft carriers that are sans air defence missile systems to target an incoming enemy aircraft or missile, sources said in New Delhi.

The missiles are to be put on board aircraft carrier INS Vikramaditya and INS Virat — Navy’s two operational warships which have been without air defence cover.

The procurement case was finalised by defence ministry after the attorney general gave an opinion in favour of procuring the missiles as their acquisition was put on hold in view of a CBI probe into charges of corruption in the deal.

The Navy had made a strong case for the 9-km range air defence missile and had told the ministry that it was left with only around 150 of these weapons.

The new government has moved fast on acquisitions for the armed forces and the Navy has received special attention from it as one of the first few meetings of the CCS cleared provision of additional funds for the completion of construction of the Indigenous Aircraft Carrier for the maritime force.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Politics News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 25 Sep 2014, 09:21 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App