The Defence Acquisition Council (DAC) is likely to approve defence contracts worth over Rs 75,000 crore in its upcoming meeting, expected within the next 15 days, a Zee Business exclusive has learned.

A major chunk of the deals, around Rs 44,000 crore, will be for the procurement of mine countermeasure vessels (mine sweepers), crucial for protecting India’s coastal and naval security. Industry insiders say Mazagon Dock Shipbuilders and Cochin Shipyard Ltd are in the running for this massive order, which aims to modernize the Indian Navy’s mine clearance capabilities.

In addition, the DAC is set to clear a Rs 30,000 crore deal for the development and production of Quick Reaction Surface-to-Air Missile (QR-SAM) systems for the Indian Army. This project will be undertaken jointly by defence public sector units Bharat Dynamics Ltd (BDL) and Bharat Electronics Ltd (BEL) to boost India’s air defence preparedness.

These deals align with the government’s push for Aatmanirbhar Bharat, focusing on strengthening indigenous defence manufacturing and reducing reliance on imports.

Market watchers expect these announcements to drive interest in defence stocks, especially Mazagon Dock, Cochin Shipyard, BDL, and BEL, as investors look for potential gains from these large contracts.

The DAC meeting and its decisions will be closely monitored by investors and industry alike, as these deals are expected to significantly enhance India’s defence capabilities while providing a fillip to the domestic defence manufacturing sector.