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The build-up of India's defence capacity has begun, said Baba Kalyani, Chairman and Managing Director of Bharat Forge, the flagship company of the Kalyani group and the world’s second largest forgings manufacturer.
Kalyani was reacting to the strategic partnership policy cleared by the Union Cabinet.
“The announcement is a major boost to the private defence manufacturing sector for it brings into play more than $20 billion worth of deals,” he said.
Many beneficiariesKalyani told BusinessLine that the approval given by the Cabinet Committee on Security for the involvement of Indian private companies in the manufacture of four high-tech defence equipment – fighter aircraft, helicopters, submarines, and armoured vehicles and battle tanks – would augur well not just for defence players but for diverse sectors such as the railways, oil and gas, the auto sector, as well as the nuclear power sector that require turbo machinery.
“By and large, they have been importing all the equipment required and very few were manufactured here, despite the fact that many players have the potential and the capability to manufacture them here,” Kalyani said.
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