Wave of optimism is sweeping home-grown small and medium enterprises (SMEs) associated with the Indian defence sector. The government’s Make in India initiative and particularly its defence offset policy has come as a shot in the arm for a number of SMEs that have gained from the rule requiring global defence suppliers to invest 30 per cent of the equipment deal amount in the Indian market by way of local sourcing. SMEs such as Noida-based Samtel Avionics, Kanpur-based MKU and Bangalore-based SI2 Microsystems, among others, have seen their order books swell as a result.
Now, all eyes are on the much-delayed Defence Procurement Policy 2015 (DPP 2015), which is expected to unleash the next wave of local manufacturing to meet the growing demand of the Indian armed forces.
Take Bangalore-based SI2 Microsystems, for instance. After a subdued couple couple of years owing to the global slowdown, when demand from the local industry kept it going, the company is now betting on DPP 2015 to change its fortunes. “We expect key projects from Hindustan Aeronautics (HAL) for indigenisation of sub-systems for the MIG and Sukoi aircraft and more projects from MBDA Missile Systems (France) in the missile testing area. Our current order book is nearly Rs 30 crore, but we expect healthy growth over the next two years,” says Sanjay Soni, president, SI2 Microsystems. Besides, the Indian Space Research Organisation (ISRO), Defence Research and Development Organisation (DRDO), Bharat Electronics (BEL), HAL and the Indian Air Force, SI2 Microsystems also works for MBDA Missile Systems, ELISRA, Stratasys, Sicon Tech (Israel) and Analog Devices (US), among others.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Is Leadership Without Hierarchies Possible?
LEADERSHIP IN THE current era is more challenging than ever before.
The Rise and Evolution of Coffee Culture in India
AS A BANGALORE native, South Indian filter ‘Kaapi’ has always been a significant part of our tradition.
The Daily Ground Goes Desi
Success in Tier-2 and Tier-3 cities hinges on several key factors, with one of the most important being the ability to offer high-quality products at an accessible price point
Cracking The Indian Code
TARUN JAIN, CEO of Tim Hortons India believes in creating an experience at cafes by blending global quality, local flavours and affordability
Making Coffee the New Chai in India
Affordable, great-tasting coffee made fast-abCoffee is reshaping how India drinks coffee
Scripting A New Era Of Coffee In India
From a bootstrapped startup to international expansion, NOTHING BEFORE COFFEE is brewing its way to the top by challenging the giants of the coffee industry with innovation, personalisation, and sustainability
"Driven By A Younger Demographic, Coffee Culture Is On The Upswing"
SUNIL D'SOUZA, Managing Director and CEO of Tata Consumer Products, discusses the company's strategic growth in India's booming coffee market, focusing on premiumisation, innovation, and expanding consumer experiences both at home and in cafés, in this exclusive conversation with BW Businessworld's Tarannum Manjul
Fresh Brew, Big Ambitions
From startups to stores, Beanly's Samayesh Khanna and Rahul Jain elevate India's coffee culture by making freshly brewed coffee a daily delight
"On Track To Become India's Top Café Chain"
In an exclusive interview, RAJAT AGRAWAL, CEO of Barista Coffee, shared insights on the company's current market position, expansion strategies, and its response to growing competition
"Ensuring A Seamless Coffee Experience Outside The Cafe Is The Next Big Thing To Watch Out For"
In an exclusive conversation with BW Businessworld's Resham Suhail, Third Wave Coffee CEO RAJAT LUTHRA and its Co-founder AYUSH BATHWAL delve on how they are navigating the competitive landscape, going beyond retail and tapping changing consumer preferences