The Defence Minister Shri AK Antony today called upon the Indian Industry belonging to both public and private sectors to forsake their “miserly attitude” towards spending on research and development. Inaugurating an International Seminar cum Exhibition on Naval Armament titled ‘NAVARMS-2013’ here today, Shri Antony said the Government has been keen to encourage the industry to realign its business processes for strategic alliances and joint ventures. He said the government is also encouraging the industry to step up the R&D efforts to remain globally competitive specially in critical technology areas.
Shri Antony said the Indian industry is at the threshold of becoming a global player in the field of information and communication technology, engineering and manufacturing. The introduction of Buy and Make (Indian category) is a significant step that has been design to enhance indigenization with the opening up of the defence sector in India to 100% Indian private sector in participation with foreign direct investment permissible up to 26%. Shri Antony hoped that the industry will gradually assume the role of system integrator and manufacturer of complete defence equipment and systems. “This provides a major shift in the role of private sector in India”, he said.
The Defence Minister said MoD is in the process of revising the Defence Procurement Procedure (DPP) and the revised DPP will be operational from the next financial year. Describing offsets as an integrated part of our policy to promote indigenization, he said, the policy has enabled greater participation of the defence industry in the country.