The Indian defence industry can provide the SME sector a lot of opportunities, says a report prepared jointly by CII and Ernst & Young.
According to the report, titled “Enhancing role of SMEs in Indian Defence Industry,” India’s defence budget at present stands at USD 26.5 million. The country is one of the top 10 countries in the world in terms of military expenditure.
The report also says that the sector currently comprises over 6,000 SMEs. These SMEs supply around 20–25 per cent of components and sub-assemblies to the various departments of the defence sector.