Huge opportunities for MSMEs in Defence Sector: HAL
New Delhi, May 26 (KNN) The public sector undertakings and private partners should come together and collaborate to meet the security challenges of the country in the future, said V.M. Chamola, Director (Human Resources) of Hindustan Aeronautics Limited.
He made the above remarks at the conference on the theme “Small is Big”, organized by TexasVentures as a part of the SUBCON expo.
Inaugurating the conference and highlighting the opportunities in defence sector, he said “there are huge opportunities in the defence sector and micro, small and medium-scale enterprises (MSMEs) should tap it.
Chamola said that aerospace and defence are the sectors that hold great importance in Make in India initiative.
Of 50 million MSMEs in India, hardly around 6000 were catering the needs of defence sector, he added.
Justifying the cause, he said that the capital intensive nature of the sector and large scale requirement of research, technology and skills prevents MSMEs participation in this sector.
In this direction, he emphasized on the involvement of government and defence public sector undertakings.
The process of transformation had begun and there were encouraging signs that the MSME sector was emerging as a major factor in our increasing self reliance in defence, he added.
“On the government side, about 70 % of industrial licences granted in this sector in the last few years was to MSMEs; there were special provisions to MSMEs in the defence procurement procedure; two defence corridors were planned and a defence innovation hub would come up in Coimbatore”, he said.
Vanitha Mohan, President of the Indian Chamber of Commerce and Industry, Coimbatore, said it had taken 50 years of collective efforts by the government and the industry to facilitate growth of the MSMEs. But, there were clear problem areas.
“We are on the right path. But, there is a long way to go,” she said.
Finance and access to credit was important for small businesses and with the rise of financial technology companies, the options were increasing for MSMEs.
Similarly, as more consumers embraced internet to make purchases, digital opportunities would increase for small and medium-scale businesses, she added.
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