Business Daily from THE HINDU group of publications
Friday, Aug 17, 2007
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Business Daily from THE HINDU group of publications Friday, Aug 17, 2007 ePaper |
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Government
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Security States - Andhra Pradesh ‘Defence spending will boost manufacturing’
Our Bureau Visakhapatnam, Aug. 16 India is going to spend not less than $30 billion in the next five years on acquisition of new defence systems and weaponry. At least one-third of it will be sourced either from the public or private sector companies, and therefore in the present booming economy the manufacturing sector will get a big boost, according to Dr A. Sivathanu Pillai, Chief Controller (R&D) in the Defence Research and Development Organisation (DRDO). Dr Pillai, who was here on Thursday on the occasion of the induction of advanced exercise mine developed by the Naval Science and Technological Laboratory here into the Navy, told reporters that at present the defence PSUs and the private sector units were providing products and systems worth Rs 7,000 crore to the defence sector. “It is slated to go up to Rs 10,000 crore and besides that about $2 billion ( Rs 10,000 crore) will be procured additionally per annum. The Indian private sector has to gear up to the challenge besides the public sector units,” he said. He said that many small-scale units in the private sector were contributing to the defence sector, but “I think they have to form into conglomerates or consortia to achieve economies of scale and produce the goods cost-effectively. It is a great opportunity for the SSIs, SMEs and also the bigger units.” Dr Pillai said 50 laboratories were working under the DRDO and they would provide the necessary scientific and technological support both for the PSUs and the private sector units.
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