Indian Defence Industry introduces new investment avenues at Electronics Next India 2010
For the first time ever in an Electronics Exhibition in India top defence officials are coming together to share the opportunities with Private Companies to serve the needs of Indigenisation and Transfer of technology.
Tweet-- Director General, EME, Lt. General AKS Chandele PVSM, AVSM inaugurated ELECTRONICS NEXT INDIA 2010, Global Marketplace and International Exhibition for EMS, electronic components, production and materials here today. He said "This year's edition of ELECTRONICS NEXT INDIA puts a spotlight on Defence and Strategic electronics and has launched a series of initiatives to encourage and invite Private firms to work in the field of defence electronics.
Recently the Government of India has pumped up defence spending by 10% to US$ 26.4 billion-the steepest hike since partition of the subcontinent, to fund a highly aggressive mammoth modernisation programme.
India plans to spend an additional US$ 30 billion until 2012 to modernise the military with immediate effect. This along with a change in FDI norms is likely to bring enormous growth opportunities for indigenous strategic electronics manufacturers.
With a view to achieving techno-economic development in Indian Defence sector, the nation has adopted a two-pronged approach -- one relates to creating a climate for the indigenous development of technology in the country, and the other deals with the transfer and adaptation of technology from advanced countries.
ELECTRONICS NEXT INDIA 2010 is a business platform which serves both the needs -- development of a technology base in the country, as well as foreign collaborations, involving technology transfer, which are imperative for achieving technical competence in the defence sector.
The recent introduction of "Buy & Make (Indian)" category in Defence Procurement Procedures aims at encouraging the Indian private industry to form Joint Ventures with any foreign manufacturer. We will soon publish the 'Technology Perspective and Capability Roadmap', covering a period of 15 years, to share the future needs of our Armed Forces.
"We are glad to be present at this platform and are hopeful that ELECTRONICS NEXT INDIA 2010 will provide the much needed exposure and focus on electronics and technology in modernisation of Indian defence. We hope that the open discussions will quell the doubts of national private firms to work with us on our Indigenisation efforts" says Lt.General AKS Chandele.
For the first time ever in an Electronics Exhibition in India top defence officials are coming together to share the opportunities with Private Companies to serve the needs of Indigenisation and Transfer of technology. Directorate of Indigenisation and Base Workshops will showcase the electronic products and technology commonly used in Indian Defence, and at the same time share the procedures and methodology to be followed by the industry towards continuum of this strategic initiative.
ELECTRONICS NEXT INDIA 2010, being held from 24-26 February 2010 in Hall 6 Pragati Maidan New Delhi, offers the opportunity to companies to interact with the top brass of the Indian Army.
"The opportunities in the Defence industry discussed at ELECTRONICS NEXT INDIA include- Major Modernization/Upgradation of existing electronics equipment-- Indigenisation of major assembly and spare parts, Innovation & product improvement, Transfer of technology especially from countries like USA, Israel etc. and Research and Development and Technical support to the field army. The application segments covers indigenization efforts in the field of Radar, Communication Equipment, Missiles, Strategic Weapons, Special Test Measurement, Night Vision devices, Tank Electronics, Locating devices", added Major General Mehta, Additional Director General, EME.
ELECTRONICS NEXT INDIA 2010 is an endeavour to bring forth the latest innovation and technologies and the capabilities in electronic manufacturing, as well as India's emergence as one of the most stable electronics industry.
"The exhibition has generated attention globally and has carved a niche amongst major electronics exhibitions in South Asia. Defence is one of the largest consumers of technology and with modernization, the inclusion of electronics in every aspect of defence equipment is imperative. At ELECTRONICS NEXT INDIA we are confident to cater to the growing interest of the private industry to tap the potential in defence electronics and serve the needs of the Indian Defence Industry", added Rajeev Chawla, Senior Vice President Sales & Marketing, Images Exhibitions, organizers of ELECTRONICS NEXT INDIA 2010.
Notes to Editor
About Images Exhibitions:
IMAGES Exhibitions is part of the IMAGES Group. Headquartered in New Delhi, IMAGES Group is India's largest specialty multimedia organization, operating through a multi-channel approach encompassing media -- both print and digital, sector-specific business events and research and intelligence. Images have offices in New Delhi, Bengaluru, Kolkatta, Mumbai and Düsseldorf to be able to serves its customers better. IMAGES Exhibitions is a specialized trade exhibitions outfit providing an array of integrated marketing solutions in a variety of sectors including Electronics, Fashion, Jewellery, Footwear, among others. It reaches a coveted network of over a million industry professionals through its extensive database and trade exhibitions. True to the mission of bridging the gap between buyers and sellers, it delivers results through focused and highly targeted trade exhibitions.