|
|
|
|
|
|
| |
| |
By Category |
 |
|
|
| |
|
| |
| |
India On Media |
|
|
|
| |
|
| |
|
|
| Others
News |
|
| We can't be complacent: Antony |
| A MiG-35 fighter jet, which was unveiled to the world by Russian Aircraft Corporation-MiG, shows its prowess at the Aero India show in Bangalore
|
| INDIA
, 8-February-2007
2:23:28 AM |
| Ruling out a review of the armed forces' modernisation plan despite peace on the borders, Defence Minister A.K. Antony on Wednesday asked Indian industry to seize the $10 billion (Rs. 50,000 crore) opportunity in weapon systems and platforms for the next five years.
"Modernisation of the armed forces is one of the most important agendas of the Government. At the moment, things are apparently peaceful. The Government as part of its conscious policy is trying to improve relations with all neighbours including China and Pakistan. Some improvement is there but we can't be complacent. Eternal vigil is required," he said at a news conference shortly after inaugurating the Aero India `07 exposition here.
Defending the 11th Five Year procurement plan (2007-12), Mr. Anthony said: "We can prevent war by strong deterrence. Therefore, we have to modernise our armed forces." In the Government's policy framework for defence purchases, industry could avail of the opportunities because in the long run "a country like India cannot depend on foreign suppliers. In future, we don't want to continue as buyers only. We want to establish a new relationship. We must be involved in transfer of technology or in design, development and co-production of military equipment." With a friendly policy framework in place, the industry must "think global, act local."
In his inaugural speech, Mr. Antony listed the policy initiatives taken in recent months and called upon industry to keep a close relationship with the armed forces and the Defence Research and Development Orgnaisation (DRDO).
Select private companies, to be called "Raksha Udyog Ratnas," will get government support to participate in developing major defence platforms as well as undertake complex system integration tasks.
A major opportunity for industry would be from the "off-set" clause under which all imported equipment worth over Rs. 300 crore must have 30 per cent Indian content.
|
|
|
|
|
|
|
|
ADVERTISEMENTS
Free offer!!! Become an administrator for your zip home page, "Post" local news (local to your postcode)& pictures, "Post" advertisement banners from local companies. Make Extra money.
|
 |
 |
|
|
| |
|
