Navy sees great opportunities for Indian industry

Posted By: Staff
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New Delhi, Jul 30: Indian Navy is spending more than Rs 20,000 crores every year on building capacity and capability for the next few years, of which 55-60 pc would go into acquisitions. This is a great opportunity for Indian industry to partner the Indian Navy, a top Naval Chief said.

Addressing the Naval Self Reliance Seminar, organized by CII on Thursday, Jul 30, Admiral Sureesh Mehta, Chief of Naval Staff urged Indian industry, including SMEs, to engage with the Navy in understanding its equipment and warfare requirements and in providing full services to the security needs of the nation.

He said that industry needs to be aware of the Navy"s needs and challenges. Government and academia too are key stakeholders in building defence self reliance.

He also said that the Indian Navy is fully committed to indigenization, with a 15 year plan (till 2022) in place, along with a Science & Technology Roadmap 2025 to chart the route to modernization, but there would be no compromise on our self reliance and security.

Satish K Kaura, CII Co-Chairman said that there is the need to combine the skills of the public and private sector to develop a strong partnership to achieve self-reliance in defence production.

He believed that SMEs have an integral role to play in achieving self reliance in defence and these organizations might, however, require a little hand holding to attain the required levels of expertise.

OneIndia News

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