New Delhi [India], February 20 : The defence ministry has signed contracts with ACE Limited and JCB India Limited for the procurement of 1,868 Rough Terrain Fork Lift Truck (RTFLT) for the Indian armed forces.
The Rough Terrain Fork Lift Trucks would cost Rs 697.35 crore in total to the Indian Army, Indian Air Force and Indian Navy.
The contract was signed in the presence of Defence Secretary RK Singh.
Rough Terrain Fork Lift Truck (RTFLT) is a critical equipment which will assist in various combat and logistics support tasks by avoiding manual handling of an enormous number of stores and thus enhancing the operational effectiveness of Indian armed forces.
According to a Ministry of Defence statement, this project has immense potential for direct and indirect employment generation by encouraging the MSME sector through component manufacturing.
The procurement marks a pivotal step towards modernising India's defence infrastructure and empowering indigenous industries, which will be a proud flag-bearer of 'Aatmnirbhar Bharat'.
"The present case being a Buy (Indian) case will enhance national defence equipment manufacturing capabilities," the ministry's statement read.
The government has introduced multiple policy measures and reforms to foster indigenous design, development, and production of defence equipment, thereby advancing self-reliance in defence manufacturing.
Significant investments are being made in defence and aerospace manufacturing, with the establishment of several defence hubs.
Moreover, many global companies have already shared, or shown a willingness to share, critical defence and aerospace expertise with India.
India's defence exports reached a record Rs 21,083 crore (approximately USD 2.63 billion) in the financial year 2023-24, marking a 32.5 per cent increase from Rs 15,920 crore in the previous fiscal year.
Notably, defence exports have grown 31-fold over the past decade compared to 2013-14. The total value of defence production in India also increased by 17 per cent to Rs 126,887 crore in the last fiscal year.
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