Sale Date Ended
India is the 10th largest defence buyer in the world, with an estimated 2.5 percent share of global defence expenditure. Recognizing the immense potential of huge market for defence equipment, the government has liberalized defence industry and opened to private sector with participation up to 100 percent in 2001, the government has also invited foreign direct investment up to 26 percent in the sector.
The defence industry in India has now been opened up for 100 per cent Indian private sector participation. This will result in higher domestic output and, consequently, a reduction in imports of defence equipment from abroad. It is hoped that there will be no restrictions on the list of items that can be produced by the private sector. The Indian private sector is competitive enough to handle defence related items, be it for the high-tech aviation or the naval sectors or the other simple products for the defence industry.
Small and Medium Enterprises (SME) in R&D and production of aerospace ancillaries in the defence sector are on trajectory to achieve Rs. 800 crores to 1,000 crores turnover in five years and the Government had been spending about Rs. 4,000 crores a year on industries, academic institutions and
R & D laboratories involved in the said activity. The role of small and medium-sized enterprises (SMEs) in the framework of globalization has changed considerably.
Considering all these factors, FICCI APSC and National Small Industries Corporation (NSIC) are jointly organizing the Defence SME Buyer-Seller Meet. The conference would have senior officials from various defence establishments like BDL, BEL, Ordinance Factory and HAL and others who will address the participants with their defence requirements, procurement procedure in their respective departments.
The major objective is to create a link between the SMEs and the large industry PSUs, so as to make the right business dealings happen. The basic idea of this event is to bring both buyer and the vendor in one platform and exchange information about their businesses and their vendor registration procedure with defence sector as focus. The target audiences are all the SMEs of defence and aerospace industry.