The Indian Air Force is planning to buy arms and equipment worth $150 billion in the next 15 years, Air Marshal PP Reddy VM, DG (Inspection & Safety) said in the Inaugural Session of 8th International Conference in New Delhi.
The IAFs revenue budget of $3 billion for 2013-2014 absorbs a major chunk of capital budget in aircrafts, engines and equipments.
S K Mittal, General Manager, Business Development, Hindustan Aeronautics Limited said majority of the raw material is being imported and this trend needs to be reversed with certification of airworthiness posing a challenge.
Mr Satish Kaura, Co-Chairman CII National Committee on Defence and Aerospace & Chairman Samtel Group said that we need to have effective mechanism for Transfer of technology in place. Thereupon we will have to focus on capacity building with aim of emerging as defence & aerospace export hub. We will have to make sure that Indian SMEs should become a part of the global supply chains of major defence equipment producers by leveraging the cost arbitrage in component designing and manufacturing in India.