Will create level-playing field for SMEs: AK Antony

During the inauguration of the DefExpo 2014, Defence Minister A.K. Antony on February 6 said efforts are being made to accelerate the pace of indigenisation in defence sector.

He said, the government is encouraging joint public-private participation in defence sector, while thrust is also being given to the private sector to make a far more meaningful and substantive contribution.

"We must always be prepared to meet any challenge posed to our territorial integrity and sovereignty," he said.

The government is taking necessary steps to modernize the armed forces so that they are well-equipped with the best equipment, weapon systems and technology, Antony added.

He said regular reviews of the Defence Procurement Procedures (DPP) are being carried out with certain objectives in mind, among which balancing the competing requirements of expediting procurement, developing a robust base for indigenous defence sector and to adhere to the highest standards of transparency, probity and public accountability are some of them.

In the latest Defence Procurement Procedures approved in 2013, he said emphasis have been laid upon to provide a boost to the Indian defence industry, both in the public and private sector by according preference to the 'Buy' (Indian), Buy and Make (Indian) categories of acquisitions.

Minister of State for Defence Jitendra Singh said that with the recent changes in DPP, a huge opportunity has been thrown open before the Indian private sector to take initiatives and compete.

He said that a close interaction between the production agencies, research and development agencies and the users, the armed forces, is also an important aspect.

The four-day DefExpo showcases India's emergence as an attractive destination for investment in the defence sector and provides a platform for alliances and joint ventures in the defence industry.

A total of 624 companies from 30 countries are displaying weapon systems for the Army, Navy and Internal Security during the DefExpo, billed as the largest ever defence exposition in Asia.

Many products are expected to be launched by Indian and Foreign Companies during the exhibition. The Federation of Indian Chambers of Commerce and Industry (FICCI) is the event manager of the DefExpo 2014.