New Delhi. 30 November 2018. The Ministry of Finance, India in January this year allocated a budget of USD 62.8 Billion to the Ministry of Defence to procure new state of the art military technology and equipment, and most importantly to modernize their forces moving India into the top five defence spenders. With India’s vision to “Make in India” the country is now moving towards manufacturing defence equipment and technology locally. The India defence sector is now opening up several opportunities for the private sector which is giving thrust to domestic manufacturing and will see contractual offset obligations worth approximately USD 4.53 Billion over the next 5-6 years.
India’s enhanced focus for import substitution for Defence equipment has now opened a new category of capital procurement “Buy Indian” – IDDM (Indigenously Designed, Developed and Manufactured) which is introduced to encourage indigenous design, development and manufacturing of defence equipment. The provision for maintenance TOT (Transfer of Technology), provisions to allow foreign OEMs (Original Equipment Manufacturers) to select Indian Manufacturing Agencies and the easing off FDI policy will now attract more foreign investments across the Indian Defence Sector.
We at TraiCon have been working extensively with several defence and security experts to research and develop an international knowledge exchange platform known as the Indian Defence Conclave 2018 which will be held on 6 – 7 December 2018 in India and will comprise of a two day international conference. This exclusive two day conference is going to be our countries premier international defence knowledge exchange platforms and will showcase the latest technology for land, sea and air defence. It is an ideal platform to establish and strengthen your relationships with key decision makers from government, military and the defence industry, giving you an opportunity to address some of the biggest challenges and come up with real time solutions.
At the Indian Defence Conclave 2018 you will witness some very interesting presentations from our international expert presenters, highly interactive panel discussions, educative technical workshops and a very exclusive opportunity to network with your industry peers.