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Business opportunities in indian defence sector. The private sector is enthusiastic about. India offers a lot more when it comes to doing business in the country. Therefore it makes good sense to give a boost to defence production by the make in india programme as there are ample opportunities to meet national requirements and vie for a share in global export potential after meeting the national requirements.
India plans to spend 130 bn on military modernization in the next 5 years as achieving self reliance in defence production is a key target for the government of india. This is the right time to invest in india as the country offers a lot more in terms of growth and prosperity to one and all. India is looking at increasing the share of engineering and manufacturing in its gdp to 25 from the current 16 over the next 8 10 years.
The government has opened up the defence industry for private sector participation to provide impetus to indigenous manufacturing. The slowing down saturation of markets in other sectors has also been responsible for the directing their interest towards the unexplored defence sector which promises sustained business opportunities. Offset obligations in defence contracts open up a wide array of opportunities for indian entities mainly for msmes and start ups interested in the defence sector.
In the indian defence sector investment opportunities are in the following areas. Total global defence export business is estimated to the tune of 1 5 trillion. Indian defence then depicts the global s cenario relating to defence and attempts to identify the opportunities and the challenges waiting for the make in india campaign for defence sector.
It now provides easy and transparent system to all the investors who are looking for stable economy and lucrative business opportunities. Opportunity as a gateway towards entering into the domain of defence production. Union defence minister rajnath singh on friday launched a portal for opportunities for make in india in defence via video conferencing facility as part of atmanirbharta saptah.
Research and development. Modernization of armed forces.
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