The Indian defence and aerospace industry will offer business
opportunity in the range of USD 200 billion in the next 15 years,
former Secretary, Department of Defence Research and Development V K
Saraswat said on Thursday.
Out of this, USD 30 billion would be by way of offsets alone, he told
reporters on the sidelines of 'Defence and Aerosupply India', a
three-day industry conclave which began on Wednesday. He stressed on
developing technological prowess in the country rather than excessively
depending on others.
Referring to the 'Make in India' endeavour of the government,
Saraswat, also a former adviser to the Defence Minister, said it should
be "Design and Make in India", suggesting that designing also be done in
a big way in the country. "We need to build critical technology in the country. Otherwise, the self-reliance index cannot grow," he said.
Saraswat lauded the role of PSUs and ordnance factories in
building and developing products for the country's requirements over the
years, but said PSUs need to function in a corporate manner to be more
competitive.
On the occasion, Chief Secretary of Telangana Rajiv Sharma, an organiser of the event, said the state government is keen on promoting the aerospace and defence sector
in the city. The government would soon come up with an industrial
policy that would be business-friendly and aimed at promoting industrial
growth in a big way, he said.
