India’s defence offset policy would be the key driver for growth and modernisation of the defence industrial base, says the Govt. “The industry therefore will evolve in sync with the overall development, leading to progressive policy initiatives coming up in future,” said Minister of State for Defence MM Pallam Raju.
Raju outlined that offset proposals worth 49,000 crore are in the pipeline. Given the complexity involved in supervision of offset, an administration infrastructure has been put in place.
Public Sector alone will not be able to absorb the offset that are to be generated in future, he said. Offset, therefore, give domestic players an opportunity to enter the sensitive defence industry. The Govt. is also planning to extend tax sops enjoyed by exports firms to domestic players as well. Also, combining Public and Private Sector skills that will help achieve higher degree of defence indigenisation is also being mulled upon.
According to Raju, the role of SMEs has been a testimony of being a backbone of the defence industry and its role is vital for the self reliance of the industry. Urging the industry to gear up, the Minister earmarked the prospects of Buy and Make (Indian) category which facilitates JVs with foreign OEMs, strengthening R&D and technology up-gradation among others.
A strong defence industry will help India leverage its Buying Power, expanding technological base, facilitating global tie-ups and JVs. This will be aimed at reducing defence imports and promoting indigenisation, Raju said.
Brigadier(Retired) Sukhwindar Singh
www.IndianDefenceIndustry.com
(An e-Hub for India Defence & Aerospace Ecosystem)
Credit: Financial Express.
Public Sector alone will not be able to absorb the offset that are to be generated in future, he said. Offset, therefore, give domestic players an opportunity to enter the sensitive defence industry. The Govt. is also planning to extend tax sops enjoyed by exports firms to domestic players as well. Also, combining Public and Private Sector skills that will help achieve higher degree of defence indigenisation is also being mulled upon.
According to Raju, the role of SMEs has been a testimony of being a backbone of the defence industry and its role is vital for the self reliance of the industry. Urging the industry to gear up, the Minister earmarked the prospects of Buy and Make (Indian) category which facilitates JVs with foreign OEMs, strengthening R&D and technology up-gradation among others.
A strong defence industry will help India leverage its Buying Power, expanding technological base, facilitating global tie-ups and JVs. This will be aimed at reducing defence imports and promoting indigenisation, Raju said.
Brigadier(Retired) Sukhwindar Singh
www.IndianDefenceIndustry.com
(An e-Hub for India Defence & Aerospace Ecosystem)
Credit: Financial Express.
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