Defence Minister Rajnath Singh invites global OEMs to set up manufacturing units in India

New Delhi, Feb 14 (KNN) Raksha Mantri Rajnath Singh on Tuesday invited CEOs of Original Equipment Manufacturers (OEMs) to become a part of the India’s defence growth story.

During a meet on the side-lines of the 14th Aero India, Singh highlighted that India offers significant advantages of competitive land costs, skilled human capital, a vibrant start-up ecosystem and a huge domestic defence market to the global defence industry.

He described this as a win-win situation where defence manufacturing companies from across the world can become a part of the Indian growth story.

“There are opportunities to co-develop, co-produce, integrate and strengthen supply chains, from Joint Ventures, set up manufacturing in India and make for the world,” he said.

As per the official statement, the defence minister assured the CEOs that government will take all measures to remove regulatory hurdles for private industry.

During the Interaction, Singh emphasised on the incentives given by Uttar Pradesh and Tamil Nadu state governments for investment in Defence Industrial Corridors, central government policies promoting FDI and defence manufacturing in India, the strong legal system protecting stakeholders' interests and improvements in ease of doing business.

The meeting was attended by CEOs and senior management of General Atomics, Safran, Boeing, Embraer and Rafael Advanced Defence Systems.

Defence Secretary Giridhar Aramane, DG (Acquisition) Pankaj Agrawal, Additional Secretary, Defence Production T. Natarajan and other senior officials of the Ministry of Defence were also present.  (KNN Bureau)