MSMEs need to overcome existing limitations to tap $ 60 bn opportunity in aerospace, defence: Saraswat
Updated: Aug 11, 2015 12:17:47pm
Hyderabad, Aug 10 (KNN) The Micro, Small and Medium Enterprises (MSMEs) need to overcome their existing limitations of just being component manufacturers with not so updated technology in order to tap the USD 60 billion opportunity in aerospace and defence, NITI Aayog member and Aeronautical Society of India (AeSI) President VK Saraswat has said.
Saraswati was speaking to the media on the side-lines of Aerospace Luminary Lecture and technical meet organised by Aeronautical Society of India (ASI) on Sunday.
Saraswat said that the opportunity in defence and aerospace for India is estimated at USD 200 billion over the next 20 years. “The offsetting will bring 30 per cent of this to MSMEs,” he said.
The defence expert said that there is a need to make the MSMEs graduate to the next level.
Component manufacturers should become subsystem suppliers while subsystem suppliers should turn system integrators, he said.
“Akash missile production alone will mean a business of Rs 25,000- Rs 30,000 crore,” Saraswat said.
Pressing upon the need of skill development and innovation, he said fab-less foundries should be set up to focus on chip designing.
“As and when we are ready to manufacture chips, these designs can be used,” he said. (KNN Bureau)
Saraswati was speaking to the media on the side-lines of Aerospace Luminary Lecture and technical meet organised by Aeronautical Society of India (ASI) on Sunday.
Saraswat said that the opportunity in defence and aerospace for India is estimated at USD 200 billion over the next 20 years. “The offsetting will bring 30 per cent of this to MSMEs,” he said.
The defence expert said that there is a need to make the MSMEs graduate to the next level.
Component manufacturers should become subsystem suppliers while subsystem suppliers should turn system integrators, he said.
“Akash missile production alone will mean a business of Rs 25,000- Rs 30,000 crore,” Saraswat said.
Pressing upon the need of skill development and innovation, he said fab-less foundries should be set up to focus on chip designing.
“As and when we are ready to manufacture chips, these designs can be used,” he said. (KNN Bureau)
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