New Delhi, Aug 25 (IANS) India’s growth in global defence market will depend largely on the country’s determination to capitalise on emerging opportunities, Rajiv Gupta, chairman of ASSOCHAM National Council on Defence and Aerospace, said on Tuesday.
Speaking to reporters on the sidelines of the ASSOCHAM National Conference on Aerospace & Defence Manufacturing, Gupta said the initiative by ASSOCHAM would help stakeholders in the defence and aerospace sectors better understand the needs of the industry, the requirements of the country and the enabling factors necessary to drive growth.
“I think this is a great initiative given by ASSOCHAM to make sure that everybody who is involved in defence and aerospace understands what are the needs of the industry, what are the needs of the country, and most importantly, what are the enablers to make this happen,” he said.
Gupta said India has significant opportunities in the global defence market but added that those opportunities would remain unrealised unless there is a strong commitment to pursuing them.
“India’s growth in the global defence market is a function of what we as Indians decide to do. The opportunities are immense, but unless we have made up our mind to go for it, it will remain an opportunity only on paper but never fructify,” he said.
According to him, discussions during the meeting focused extensively on the factors required to strengthen the sector and support future growth.
Highlighting industry efforts to boost domestic manufacturing, he said companies are continuing to equip India’s armed forces with advanced products developed within the country and tested in challenging operating environments.
Gupta said the sector has also worked towards creating a wider domestic supply network by developing MSMEs and local supplier partners.
“To do so, we have developed multiple MSMEs and local supplier partners,” he said, adding that the industry would continue efforts to increase localization and strengthen India’s defence manufacturing ecosystem.
