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India eyes defence industry to boost economy
Published March 18, 2015 | By admin
SOURCE : KHBAR SOUTH ASIA
Indian business leaders and military industry-watchers welcomed the government’s plan to invest in domestic defence, saying the effort would both improve national security and strengthen the economy.
This follows the announcement by Prime Minister Narendra Modi at the 10th Aero India Show in Bangalore last month that India would seek to reduce its 60% of defence imports, also saving billions of dollars.
With an effective strategy that attracts domestic and international investors, India’s military industry will become the heart of the “Make in India” programmeand create thousands of new jobs, Modi said at the event.
“A strong Indian defence industry will not only make India more secure. It will also make India more prosperous,” said Modi. “We have the reputation as the largest importer of defence equipment in the world … this is one area where we would not like to be number one.”
Military analyst Mohammed Ahmedullah said India was in dire need of a strong defence industry and making it so should be the government’s priority.
“India will gain self-reliance by manufacturing defence equipment, armed forces are desperately looking for indigenous machinery, weapons and aircrafts as they do not want to be dependent on any other nation, particularly at the time of direct threat from the enemy,” Ahmedullah told Khabar South Asia.
Prime Minister Modi disclosed at the Bangalore event that even with a 20% to 25% reduction in imports, India could create 120,000 new domestic high-skilled jobs.
“There will be a clear preference for equipment manufactured in India,” he said, adding the goal was to increase domestic procurement in the sector from 40% to 70% in the next five years.
Rohit Mahajan, chief executive officer of HP Patel Group, said the emergence of a strong defence manufacturing industry in India will open additional new export opportunities.
“India should start manufacturing all the [defence] equipment domestically with the help of foreign and local investors which will certainly strengthen the economy,” Mahajan told Khabar. “India would also be able to export the product at attractive prices.”
Ameya Sathaye, editor-in-chief of Diplomacyindia.com, told Khabar that investing in the defence industry would provide new employment opportunities.
If managed properly, the industry will create many more domestic economic opportunities, Mahajan added.
India eyes defence industry to boost economy | idrw.org
Published March 18, 2015 | By admin
SOURCE : KHBAR SOUTH ASIA
Indian business leaders and military industry-watchers welcomed the government’s plan to invest in domestic defence, saying the effort would both improve national security and strengthen the economy.
This follows the announcement by Prime Minister Narendra Modi at the 10th Aero India Show in Bangalore last month that India would seek to reduce its 60% of defence imports, also saving billions of dollars.
With an effective strategy that attracts domestic and international investors, India’s military industry will become the heart of the “Make in India” programmeand create thousands of new jobs, Modi said at the event.
“A strong Indian defence industry will not only make India more secure. It will also make India more prosperous,” said Modi. “We have the reputation as the largest importer of defence equipment in the world … this is one area where we would not like to be number one.”
Military analyst Mohammed Ahmedullah said India was in dire need of a strong defence industry and making it so should be the government’s priority.
“India will gain self-reliance by manufacturing defence equipment, armed forces are desperately looking for indigenous machinery, weapons and aircrafts as they do not want to be dependent on any other nation, particularly at the time of direct threat from the enemy,” Ahmedullah told Khabar South Asia.
Prime Minister Modi disclosed at the Bangalore event that even with a 20% to 25% reduction in imports, India could create 120,000 new domestic high-skilled jobs.
“There will be a clear preference for equipment manufactured in India,” he said, adding the goal was to increase domestic procurement in the sector from 40% to 70% in the next five years.
Rohit Mahajan, chief executive officer of HP Patel Group, said the emergence of a strong defence manufacturing industry in India will open additional new export opportunities.
“India should start manufacturing all the [defence] equipment domestically with the help of foreign and local investors which will certainly strengthen the economy,” Mahajan told Khabar. “India would also be able to export the product at attractive prices.”
Ameya Sathaye, editor-in-chief of Diplomacyindia.com, told Khabar that investing in the defence industry would provide new employment opportunities.
If managed properly, the industry will create many more domestic economic opportunities, Mahajan added.
India eyes defence industry to boost economy | idrw.org
till then we lol benefit with ToT and modern testing facilities ...
