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Sarkaritel.com News and Features
India's Defence-Aerospace
Market Worth US $ 8 bn
New Delhi, December 05, 2006
After the Defence Pact with America in 2005, India has been
opening to the US Aerospace products. The defence-aerospace
market in India is around US $ 8 billion out of which a
whooping 80 percent Defence products are being sourced from
Russia.
The world is globalizing steadily and it's time Indian
Aerospace industry diversified and got into new partnerships
with mutual partners for mutual benefits. The Indian Air Force
needs to become a more strategic force and modernize its
outdated activities to reckon with international forces. The
US companies are cogently eyeing the Indian Defence and
Aerospace market to expand and promote their business and work
together with India in creating a world-class model of defence
technology.
The long-brewing anxiety and curiosity to do business with
India and a want to gain better understanding of the Indian
Aerospace and Defence markets and various procurement
policies, has brought down The AIA (Aerospace Industries
Association) team, comprising of 30 representatives, on a
six-day visit to India to meet various Indian Defence and
Commerce officials to make this endeavor fructifying and
result-oriented.
Executive Vice President, Defence & International Affairs,
AIA, Mark Esper, at the first-ever trade mission of the
American group to India, said our 2007 agenda includes
promoting the development of modern export control system.
A quicker, more rational and faster model of transformation
to energize the aerospace industry is the need of the hour.
While the Indian and American private industry have worked as
partners earlier to build fighter aircraft, real change is now
required in the areas of finance, technology and reliability
of supplies to make the Indian Aviation Market globally
competitive till the next 20 years.
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