India, which has successfully sent a mission to Mars and notched up the distinction of being the global software and IT powerhouse, continues to import two-thirds of the combat systems and fighting equipment required by its defence forces with serious consequences for the Balance of Payment position of the country.
Against this backdrop, the “Make in India” initiative of Prime Minister Narendrea Modi is planned to be harnessed in a big way to transform India into a major global hub of defence industry. Modi who inaugurated the Aero India-2015 international air show at Bangalore in February this year made the point that India can no longer afford to remain the numero uno importer of defence equipment.
Advocating the need for defence self-reliance in all its manifestations , Modi observed, ”The country should work towards increasing domestic procurement from 40% to 70% in five years. And that is why....
