Tuesday, June 17, 2014:With national security topping the priority list of Narendra Modi-led central government, Modi’s recent statement reiterating that the country would be encouraging local companies in defence equipment manufacture has come as a sign of hope for companies dealing in the same. Modi’s encouragement that India should be exporting defence equipment in the days to come sees companies now working with increased vigor to prove their mettle.
Many believe even if the BJP-led NDA Government at the centre gives part of its estimated $247 billion worth purchase orders in the next three years to Indian companies, the same will witness a rise like no other, thus reducing our dependance on imports in the process. Indian companies like Bharat Electronics, BEML, Pivavav Defence etc are rigorously vying for orders for trucks, jeeps, submarines, frigates, aircraft carriers, offshore patrol vessels, corvettes, missile systems as also other military hardware and software, and Modi’s clear stand to promote Indian-made goods is surely the icing on the cake.
Apart from the usual, a number of majors like Mahindra, Reliance and the Tatas are eying the defence sector now more than ever. Very recently, Reliance Industries tied up with Dassault Aviation after the government ordered 126 fighter jets from them. Dassault, a French company manufactures Rafale and and Falcon business jets. Reliance Industries will enter into both these sectors as part of the joint venture.
