Indian industry has reached great heights, particularly in engineering and automobile sectors, said Union Defence Minister Nirmala Sitharaman.
Speaking at a seminar organised by ASSOCHAM on ‘Bolstering Make in India in Defence’ at the DefExpo 2018 premises at Thiruvidanthai near Chennai, she said her ministry is committed to Make in India project in defence sector.
"These industry segments have reached great heights and have met world standards. Today, across the globe, there is no car in which an Indian component is not involved. But let us not stop there," she said.
“Come out with ideas, innovations, and here is a government that is ready to listen to you and facilitate everything that will help you in bringing out world class products. With private participation, we can get fine products that can have immense value," she said.
Later, interacting with the media, Sitharaman reiterated that the defence ministry was committed to Make in India project, and this DefExpo 2018 has given immense space to the small and medium companies.
Earlier, Chief of Naval Staff Admiral Sunil Lanba, while talking about Indian Navy, said the Navy has been promoting indigenisation for a very long time now. "Navy has been aiding in building frigates, corvettes indegenously," he said.
Wrapping up the seminar, chairman of ASSOCHAM National Council on Aerospace and Defence Rajesh K. Dhingra said the industries will have to "utilise the innate potential in our country to realise new investments."
The DefExpo 2018, organised by the defence ministry, has been witnessing a major support from industrial bodies and other private sector players, with over 700 companies and industries installing their stalls to display their products.
A total of 701 exhibitors have displayed their products in the expo, including 539 Indian firms and 163 international firms. "Compared to the earlier expos, this time we have the highest ever Indian companies," noted the defence minister. While this is the highest ever participation by Indian firms, the participation of international companies have come down by 10 per cent.
Thiruvidanthai, the outskirts of Chennai on the scenic ECR, got into a festive mode with several international delegates arriving at the spot. Spread across a sprawling 2,90,000 sqft, DefExpo 2018, which is the largest of all the defence exhibitions over the years, was launched by the defence minister on Wednesday, and will be formally inaugurated by Prime Minister Narendra Modi on Thursday. The expo has 20 per cent of the space is reserved for MSME, which is also the first of its kind.