India Bolsters Defence with AMCA Programme Approval

Defence Minister Rajnath Singh has approved the AMCA Programme Execution Model, boosting India's aerospace capabilities and industry. The Aeronautical Development Agency will manage the programme, involving both private and public sectors. Stock markets responded positively, lifting shares of defence firms by up to 6 percent.

In a significant move to enhance India's aerospace capabilities, Defence Minister Rajnath Singh approved the Advanced Medium Combat Aircraft (AMCA) Programme Execution Model. Announced by the Ministry of Defence, this initiative aims to fortify indigenous defence mechanisms and strengthen the domestic aerospace sector.

The Aeronautical Development Agency (ADA) will spearhead the programme, integrating both private and public sector partnerships. The model facilitates competitive bidding, allowing entities to participate independently, as joint ventures, or consortia, provided they comply with Indian regulations.

This strategic decision marks a pivotal advancement towards self-reliance in aerospace, with ADA soon to release an Expression of Interest for the AMCA Development Phase. The announcement had a positive ripple effect on stock markets, as shares of defence companies surged, subsequently boosting the Nifty India Defence index to a new 52-week high.

(With inputs from agencies.)