Although, India is among the top ten military spenders in the world. However, unlike other geographies which have large defence industries to support their domestic needs , Indian requirements are primarily met by government players into the domain and imports. With importing nearly USD 5.5 Billion worth of military hardware, India has emerged as the largest arms importer in the globe accounting nearly 15% of such imports internationally. For India to build a strong defence manufacturing base in future , collaborating with mature as well as developing markets is the need of the hour. Although countries such France, Russia ,UK etc have been aiding India for its defence requirements since long. About 50% of the military imports of India were cumulatively driven by France & Russia over the past many years. But it’s the time for India to take a step beyond the comfort zone by zeroing down the imports and applying manufacturing expertise pioneered in these nations.
To satiate the much needed requirement of investments to expand the domestic manufacturing base of defence equipments into the country, enincon llp takes pride in coming up with a report “ Defence Manufacturing in India : An USD 40 Billion Opportunity”. The report tracks the planned expenditure and the growth plan of Indian defence manufacturing industry. Further, it also unveils the market opportunity for various private OEMs present across the defence manufacturing domain coupled with the regulatory and policy environment offered by the Indian government to encourage investments in international currencies as well. In addition to this , the dossier also includes the profiling of key global and domestic OEMs present into the Indian defence manufacturing space.
Key Queries Resolved:
- What would be the planned spending on manufacturing equipments across the defence domain?
- What would be the market size and outlook of manufacturing defence equipments in India ?
- What would be the scope of defence industrialization in India?
- What would be the key enablers and challenges for defence manufacturing in India?
- How India can create a vibrant domestic manufacturing setup in India?
- What is the market opportunity of defence manufacturing in India?
- What are the key learning’s from other geographies to improve domestic manufacturing into the defence facet?