Defence sector indigenisation to pick up: Parrikar
Sharath Chowdary Indigenisation in the defence sector is picking pace just as various other government initiatives have been doing, Defence Minister Manohar Parrikar said on Saturday. He was speaking to the media after laying the foundation stone of Tata Boeing Aerospace Ltd (TBAL) new facility in Hyderabad. As the government is focused on clearing regulatory issues on priority, indigenisation would gather momentum by the end of next year, he said. Mentioning the bureaucratic processes that have been causing a delay in getting Foreign Direct Investment (FDI) in the defence sector, Parrikar said, “FDI in the defence sector will take more time. The central government is trying to fast-track the process of defence procurement to drive indigenisation and to attract FDI in this ...
Mega joint venture to accelerate defence manufacturing
The Dollar Business Bureau In a major boost to commercial and defence manufacturing, Boeing and Tata Advanced Systems (TAS), on Monday, announced the formation of a joint venture (JV) for manufacturing aerostructures for aircraft and collaborate on integrated systems development opportunities in India. The JV will set up a facility to produce aerostructures for AH-64 Apache helicopter. Later, the venture will also look for manufacturing work packages across Boeing platforms, both commercial and defense. The partnership between the two companies intends to focus on opportunities to collaborate on development and selling of integrated systems. “Over the last 12 months, we have doubled our sourcing from India and are committed to continue that journey. This JV is a clear example of Boeing’s ...
GoI clears defence proposals worth over Rs 30,000 crore
The Dollar Business Bureau Government of India has cleared defence proposals worth over Rs 30,000 crore at a meeting of the Defence Acquisition Council (DAC) chaired by the Defence Minister Manohar Parrikar, in New Delhi on Tuesday. The deals also include purchasing of 428 guns under ‘buy and make’ category, which is likely to cost an exchequer Rs 16,900 crore and is being viewed as a major priority for the Indian Army. For this purpose, the government is keen towards the local companies and was also said to have sought representations from the local makers. However, only two Indian companies Punj Llyod and Bharat Forge were said to have responded to the army request for information on the procurement plan. Besides, ...
