Apart from the NSA, the committee will comprise the foreign secretary, chairman of chiefs of staff committee, the Army, Navy and Air Force chiefs and secretary (expenditure) in the Finance Ministry, officials said.
The chairman of the DPC can co-opt experts into it depending on requirement.
The officials said the committee would prepare drafts of national security strategy and doctrines, international defence engagement strategy and roadmap to build defence manufacturing ecosystem.
It will also work on strategy to boost defence exports, and prioritised capability development plans for the armed forces.
The DPC would submit its draft reports to the Defence Minister according to "given timelines" following which further approvals will be obtained as required.
The committee will also focus its energy on development of Indian defence industry and technology advancements.
To provide duly considered and refined inputs to the DPC, specific issues would be managed through a number of sub committees, the officials said.
The sub-committees are likely to be in areas of policy and strategy, plans and capability development, defence diplomacy and defence manufacturing ecosystem, the officials said.
Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on ndtv.com/elections. Like us on Facebook or follow us on Twitter and Instagram for updates from each of the 543 parliamentary seats for the 2019 Indian general elections.