By: Vivek Raghuvanshi
NEW DELHI — India's Defense Acquisition Council (DAC) on Monday approved a new policy regarding the blacklisting of defense companies charged with corruption. The agency also approved $12.61 billion worth of new homemade defense projects.
The formal blacklisting policy guideline will be published on the website of the Ministry of Defence (MoD) in the next few days. DAC falls under the purview of Defence Minister Manohar Parrikar.
Companies alleged to have been involved in corrupt practices or illegally influenced defense contracts will be severely punished, and the blacklisting of a company will comprise several levels of punishment and embargos, said a senior MoD official.
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