'Make in India' to open new avenues in defence manufacturing sector
Taking inspiration from Prime Minister Narendra Modi’s 'Make in India' campaign, a number of experts from Defence Industry will explore new avenues for private players in the sector. To deliberate the issue of ‘Make in India’ in defence sector, the Army Institute of Management and Technology (AIMT), Greater Noida will organise a day-long seminar at its campus on May 9, 2015. The seminar – 'Make in India Made Easy- Opportunities and Challenges for Defence Sector' — will bring together an array of experts from the industry, academia and policy makers, a government statement said on Tuesday. Representatives from Defence Ministry, army, corporate sector and business schools will share their views on how to leverage on ‘Make in India’ initiative of the central government. The seminar will focus specifically on the opportunities and challenges for Indian companies in the defence sector. Experts will discuss changing business environment of India and throw light on major policy initiatives. The participants will discussion on numerous business opportunities in the defence manufacturing sector not only for the major arms manufacturer players but for small scale industries (SSIs) and Micro Small and Medium Entreprises (MSMEs), especially in the light of the enhanced capital and revenue budget, the statement said. According to an estimate, India’s 60% defence procurement requirements are met by imports. In the next seven-eight years, the country is expected to invest more than US$ 250 billion in defence sector. Experts say that encouraging private players in defence manufacturing will give impetus to Prime Minister Narendra Modi's ‘Make In India' campaign. Such an initiative will allow local industries to become globally competitive.
May 5, 2015 | 7:25 pm IST.
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