India needs investments of $200-300bn in aerospace, defence production

[jha]

India needs investments of $200-300bn in aerospace, defence production: P. Raju

Keeping future growth in mind, India may need investments of $200-300 billion in the military and aerospace sectors over the next two decades, minister of state for defence, MM Pallam Raju, said.

"According to ministry of civil aviation, Indian aerospace industry needs investment of $200 to 300 billion over 2009-2034. All segments of aviation civilian, military and space research are showing tremendous growth," he said here today.

"The value of offset contracts is likely to be more than Rs10,000 crores in the 11th plan ending this year. Twelve offset contracts valuing Rs9,943 crores have already been signed with Indian private industries and defence PSUs, worth Rs6,464 crores and Rs3,430 crores respectively," he said.

He further added offsets worth Rs36,657 crore were in the pipeline and would benefit more than thirty five companies of the Indian origin.

"The new policy aims to enhance the potential of SMEs in indigenization and broaden defence R&D base in India. Their growth can contribute to economic prosperity through employment generation, innovation and overall development.

''Government is committed to help the growth of SMEs in the defence sector," he said.

domain-b.com : India needs investments of $200-300bn in aerospace, defence production: P. Raju

 

[true_indian]

Thats about 10-15 billion per year. I thought we already spending that much, don't we?

 

[angeldemon_007]

^^^
I doubt it.....we are talking about investment not purchase...

 

[Tshering22]

Investment is only a part of the game. The first step India needs to do is to change its education system completely. And when I say completely, I mean completely. Rote memorization should be banned, school teachers should be offered better payments and an open research oriented education system that allows more open-minded thinking and research concept development in students, should be put in place.

Science so far in India has almost laughable amount of research papers done compared to US, China and other powerhouses. This is the reason why our innovation is at a snail's pace compared to the Chinese. Unless someone is willing to cut the slack and start taking education structure a little more seriously rather than Gandhi-Nehru family's personal propaganda to brainwash Indians, investments will simply never reach new and pragmatic young researchers who actually need the funds.

Before making investments change the bloody education system of India from ROTE MEMORIZATION and structured system to an open minded strongly research oriented system. Only then, will we progress.