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New Delhi: The economic growth in the country and rest of Asia will drive the Indian aerospace industry growth, said Mr MM Pallam Raju, Minister of State for Defence during the inaugural session of 6th International Conference on "Energising Indian Aerospace Industry: Emerging Opportunities, Enduring Partnerships" jointly organised by Confederation of Indian Industry (CII) and Centre for Air Power Studies (CAPS) here today.
Other key drivers and enablers are huge domestic demand, defence offsets, Information Technology prowess of Indian industry and track record of honouring Intellectual Property Rights. There exist a lot of potential for the Indian industry not only in the defence sector but also in the civil aerospace sector. Maintenance, Repair and Overhaul activities will further propel the growth of aerospace industry.
Indian Air Force expects life long commitment from the Indian Industry: Air Chief Marshal NAK Browne. While speaking in the inaugural session of 6th International Conference on "Energising Indian Aerospace Industry: Emerging Opportunities, Enduring Partnerships," Chief of Air Staff, Air Chief Marshal NAK Browne observed that Indian Air Force expects life long commitment from the Indian Industry for its short term and long term requirements. We cannot keep relying on the foreign Original Equipment Manufacturers forever. Therefore, Indian Industry has the support of the Indian Air Force as IAF is ready to lead the race. By giving a special emphasis on the importance of Indian private sector industry's participation in the major upcoming projects, he said that IAF expects larger participation in the Multi-Role Transport Aircraft (MTA).
He further said that MMRCA deal will most probably be signed by the end of this year. This deal will generate billion of dollars worth of opportunities for the Indian industry right from system integrator level to tier 2, 3 and 4 level. Mr Sunil Kant Munjal, Past President CII and Chairman Hero Corporate Service Ltd said that out of Fortune 500 companies, 350 companies have their Research and Development bases in India. Defence Offsets have provided unique opportunity to the Indian Industry.
We need to learn to partner with appropriate players and take quicker and bolder decisions. Greater involvement of the industry in the Defence and Aerospace sector will only benefit the nation as a whole. There are several examples wherein Indian indigenized content had reached as well above the expected limit in a very short span of time. Mr Ajay Prasad, Former Defence Secretary and Secretary Civil Aviation, said that offsets in the civil aviation has benefited the Indian industry. Therefore, the criticism of the dilution of the defence offsets by extending it to civil aerospace and internal security does not hold any grounds. We should push try to leverage defence offsets for the overall benefit of the Indian Industry. Mr Satish K Kaura, Co-Chairman CII National Defence Council said that India has recently placed one of the biggest defence orders particularly in the aerospace sector. As India grows economically and takes on bigger challenges of ensuring peace and stability in the region, this demand is likely to grow. India forever cannot rely on imports to meet its defence requirements. Therefore, private sector participation in the defence production will play the crucial role in achieving the larger national objectives.
In our endeavour, we would require the support of the Armed Forces, Industry, academia and other stake holders. Air Cmde Jasjit Singh (Retd), Director Centre for Air Power Studies (CAPS) said that the country is undergoing major transformation as industrial revolution about to take place in the country. Industry will have a larger role to play in this transformation. Almost all the major global and Indian companies in the aerospace domain were present in the conference.
The Economic Growth to Drive the Indian Aerospace Industry: MM Pallam Raju
Other key drivers and enablers are huge domestic demand, defence offsets, Information Technology prowess of Indian industry and track record of honouring Intellectual Property Rights. There exist a lot of potential for the Indian industry not only in the defence sector but also in the civil aerospace sector. Maintenance, Repair and Overhaul activities will further propel the growth of aerospace industry.
Indian Air Force expects life long commitment from the Indian Industry: Air Chief Marshal NAK Browne. While speaking in the inaugural session of 6th International Conference on "Energising Indian Aerospace Industry: Emerging Opportunities, Enduring Partnerships," Chief of Air Staff, Air Chief Marshal NAK Browne observed that Indian Air Force expects life long commitment from the Indian Industry for its short term and long term requirements. We cannot keep relying on the foreign Original Equipment Manufacturers forever. Therefore, Indian Industry has the support of the Indian Air Force as IAF is ready to lead the race. By giving a special emphasis on the importance of Indian private sector industry's participation in the major upcoming projects, he said that IAF expects larger participation in the Multi-Role Transport Aircraft (MTA).
He further said that MMRCA deal will most probably be signed by the end of this year. This deal will generate billion of dollars worth of opportunities for the Indian industry right from system integrator level to tier 2, 3 and 4 level. Mr Sunil Kant Munjal, Past President CII and Chairman Hero Corporate Service Ltd said that out of Fortune 500 companies, 350 companies have their Research and Development bases in India. Defence Offsets have provided unique opportunity to the Indian Industry.
We need to learn to partner with appropriate players and take quicker and bolder decisions. Greater involvement of the industry in the Defence and Aerospace sector will only benefit the nation as a whole. There are several examples wherein Indian indigenized content had reached as well above the expected limit in a very short span of time. Mr Ajay Prasad, Former Defence Secretary and Secretary Civil Aviation, said that offsets in the civil aviation has benefited the Indian industry. Therefore, the criticism of the dilution of the defence offsets by extending it to civil aerospace and internal security does not hold any grounds. We should push try to leverage defence offsets for the overall benefit of the Indian Industry. Mr Satish K Kaura, Co-Chairman CII National Defence Council said that India has recently placed one of the biggest defence orders particularly in the aerospace sector. As India grows economically and takes on bigger challenges of ensuring peace and stability in the region, this demand is likely to grow. India forever cannot rely on imports to meet its defence requirements. Therefore, private sector participation in the defence production will play the crucial role in achieving the larger national objectives.
In our endeavour, we would require the support of the Armed Forces, Industry, academia and other stake holders. Air Cmde Jasjit Singh (Retd), Director Centre for Air Power Studies (CAPS) said that the country is undergoing major transformation as industrial revolution about to take place in the country. Industry will have a larger role to play in this transformation. Almost all the major global and Indian companies in the aerospace domain were present in the conference.
The Economic Growth to Drive the Indian Aerospace Industry: MM Pallam Raju
