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Our Bureau

New Delhi , Jan. 20

IN the next three years, India should have an export target of Rs 1,000 crore in the defence equipment segment, according to Defence Minister Mr George Fernandes.

Speaking at the Shri Ram Memorial lecture organised by PHD Chamber of Commerce and Industry (PHDCCI), Mr Fernandes said on Tuesday that the export potential over the next ten years is Rs 20,000 crore. Items like MBT tanks, self-propelled guns, armoured ambulances, bridge layers have potential buyers," he said.

According to Mr Fernandes, the Small and Medium Enterprises sector benefits most from defence enterprises. It is estimated that 40 per cent of such procurements come from large enterprises and the remaining from SMEs.

Mr Fernandes emphasised that the domestic demand is firm enough to initiate product upgradation by many domestic manufacturers so as to benefit from the defence demand.

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