New Delhi, 20 May 2017: Welcoming the unprecedented decision taken by the Defence Acquisition Council (DAC) chaired by Arun Jaitley, to finalise the contours of the strategic Partnership policy to engage Indian Private Sector in Manufacture of Hi-tech defence equipment in India, Pankaj R Patel, President, FICCI said, “involvement of the Indian Private Sector as Strategic Partners in Hi-tech Defence Manufacturing and recognising them as system of system integrators will germinate the requisite growth shoots for ‘Make in India’ in Defence and Aerospace Manufacturing”.
FICCI compliments the government on the consultative approach that it has taken over the past 3 years wherein industry and apex bodies gave their inputs towards the final contours agreed by the DAC .
Pankaj Patel pointed out that “this will be a win-win situation for the government, Strategic Partners from Indian Private sector, The OEM and the technology driven Defence MSMES who will get in to tiered supply chains of the strategic partners. While the prime will get assured orders over a specified period so that it could further commit business to its tiered vendors thus contributing to the development of a vibrant Defence Industrial Base. The MoD will benefit by the cost competitiveness and the frugal engineering capabilities of Indian industry, cut imports for the Govt and help the Foreign OEMs to leverage these relationships to serve new markets worldwide”.