make in india

INDIA'S DEFENCE SECTOR

India has the third largest armed forces in the world and 60% of the defence related requirements are imported. These imports lay a huge opportunity for import substitution. The India’s union budget for defence is approx USD 34.53 billion, out of which 31.1% is spent on capital substitution.

  • India’s current defence requirements are largely distributed by the imports. The foreign original equipment manufacturers enter into strategic partnership with the Indian companies through the opening of the defence sector for the private sector. This will leverage the domestic market as well as targets the global markets. It will not only help in building domestic capabilities but also reinforce exports in the long term.

  • Self-reliance, indigenization, technology upgradation, and achieving the economies of scale including developing of capabilities for exports in the defence sector, which are promoted by a favorable Government policy.

  • The India’s defence coursing hub is growing by applying the modernization plans along with as increased focus on homeland security.