ASHOK Kumar Gupta, Secretary, defence production, says that government efforts had immensely incentivised private sector participation in manufacturing for the defence forces, pointing to the spurt in the licences issued between May 2014 and June 2016.
Altogether 125 licences were issued in the span of the two financial years, compared to 217 licences issued between 2001 and May 2014. In a freewheeling conversation with Suman K. Jha, he discusses a range of issues, including the promises and challenges of the Make in India initiative in defence production.
Many consider the government set target of 70 per cent indigenisation in defence production by 2027 too ambitious. It is your target too, but is it achievable?
We would like to achieve it even earlier. A number of initiatives have been taken in this direction. We are on the right path. The country is now on the threshold of defence manufacturing under the Make in India initiative. It aims to reverse the current ratio between imports and indigenous manufacture of defence material, without adversely affecting the requirements, capability and preparedness of the Armed Forces. Achieving this will require equipping the country with the ability to design, develop, manufacture, integrate, test, maintain and upgrade defence systems we require.
India is in the midst of modernizing its Armed Forces and an estimated $250 billion will be spent on capital procurement over the next ten years. Moreover, in the new Defence Procurement Procedure 2016, ‘Buy (Indian-IDDM)’, ‘Buy (Indian)’, ‘Buy & Make (Indian)’ are the most preferred categories, which means that increasingly Request for Proposals (RFP) will be issued to the domestic industry. Foreign OEMs (original equipment manufacturers) can leverage domestic demand by tying up with domestic companies, either for collaborative R&D followed by production or through transfer of technology for production through joint ventures. Alternatively, they can set up their own manufacturing base here.
India plans to boost arms exports 20-fold to $3 billion over a decade. How are things shaping up?
هذه القصة مأخوذة من طبعة October 3, 2016 من Businessworld.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة October 3, 2016 من Businessworld.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Gauging Trumponomics For India
Despite some shortto mediumterm headwinds in trade and immigration, the broader Indo-US vision of counterbalancing China’s influence is expected to ensure continued cooperation under Trump 2.0
Reflections on Consciousness and Creation
Indian-American DEEPAK CHOPRA on the nature of the universe, the digital fabric of existence, and the power of a conscious mind
MORE TAKE TO DRIVING IN STYLE
High-end luxury vehicles are no longer part of a niche market, but a rapidly expanding segment of automobile sales, driven by changing consumer preferences, rising disposable incomes and better infrastructure
India's Growing Affinity for Swiss Watches: A Luxury on the Rise
NDIA'S ROBUST ECONOMIC growth, projected to exceed 6 per cent in 2024 and 2025, is fostering a rising demand for aspirational products. As disposable incomes increase, particularly among the expanding middle class, luxury goods such as Swiss-made watches are gaining popularity.
An ENRiching Outlook
KPMG's latest report shows energy CEOs being optimistic about the sector's outlook. ANISH DE, Global Head, ENRC, KPMG speaks to BW Businessworld's Arjun Yadav on what's driving this confidence
Paving the Path to a Sustainable Future
Salesforce's ESG journey has made an impact beyond the company. SUNYA NORMAN, SVP of ESG Strategy and Engagement at Salesforce, shares more on how the tech giant integrates sustainability into its core operations, supporting global goals while empowering employees
LEADERSHIP TRANSITION AT XIAOMI INDIA
Xiaomi India is experiencing a leadership evolution, beginning with Muralikrishnan B's departure as President by the end of 2024. This change underscores Xiaomi's shift towards nurturing local talent amidst dynamic global shifts. The story tracks key transitions from Manu Kumar Jain's leadership to Muralikrishnan B's impactful tenure, along with recent strategic hires, highlighting Xiaomi's alignment towards market adaptability and consumer focus
WEAVING SUSTAINABILITY
Once a modest home textile manufacturer, Jindal Worldwide has evolved into a vertically integrated textile powerhouse, spanning critical segments of the yarn and fabric value chain
FORCE FOR GOOD
FY24 saw capacity expansions for Century Enka in nylon and polyester segments, along with investments in modernisation, renewable energy, and safety initiatives
REIMAGINING TOMORROW
For V-Guard, tomorrow signifies progress, driven by today's actions, setting the foundation for future growth and value creation for all stakeholders