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2012-03-30

Government roots for SMEs participation in defence sector

Addressing on the occasion of annual Defexpo India 2012 inauguration, Minister of State (MOS) for Defence, Dr. Pallam Raju said that the government would encourage the participation of Small Medium Enterprises (SMEs) in the country’s defence sector by bro

Addressing on the occasion of annual Defexpo India 2012 inauguration, Minister of State (MOS) for Defence, Dr. Pallam Raju said that the government would encourage the participation of Small Medium Enterprises (SMEs) in the country’s defence sector by broadening the defence’s Research & development (R&D) fund to achieve self reliance in defence preparedness.

“The Government is committed to do its utmost to render maximum possible support to SMEs in order to promote their participation in Defence Production,” said Raju.

The Indian Armed Forces which is currently going through a modernization phase has in turn increased the spending on defence procurements. This has further opened up significant opportunities for SMEs to get merged into the supply chains of national and international defence majors and an ideal platform for doing business in defence industry. The minister also talked of enhancing the potential of SMEs to promote indigenization in defence and joint ventures with foreign Original Equipment Manufacturers (OEMs).

“The ongoing Modernization of our Armed Forces presents enormous opportunities for doing business in Defence Sector in India. We are looking for partnerships and co-development arrangements and formation of Joint Ventures with foreign OEMs in the Critical Technology Areas. DefExpo, which is a one stop shop, is an ideal platform for doing business in Defence,” he added.

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