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In this State of the Economy Podcast episode, Captain Nikunj Parashar, Founder and CEO of Sagar Defence Engineering Private Limited, and businessline’s Dalip Singh discuss the latest developments in the defence sector, expectations from 2024 budget, challenges faced by the start-ups and the innovative journey of his company, Sagar Defence, established in 2015. The startup focuses on cutting-edge naval solutions.
Captain Parashar, a merchant marine and alumnus of IIM Ahmedabad, highlights the challenges faced in the initial years, emphasising the importance of the Make in India initiative. His company specialises in autonomous maritime technology, with a focus on platform-agnostic solutions for the Indian Navy. The company’s achievements include developing the country’s first unmanned surface vehicle and gaining acceptance from the armed forces.
The discussion delves into Sagar Defence’s recent success with a contract under the IDEXX Dio’s Sprint Initiative, involving autonomous weaponised boat swarms. Captain focuses on the core technology behind their platforms, such as radio control target boats and unmanned surface vehicles, enabled by platform-agnostic hardware and embedded software developed in India.
The podcast also explores Sagar Defence’s expansion into different domains, including aviation and maritime, with projects like ship-based drones and underwater vehicles for mine countermeasures. Captain Parashar discusses the company’s entry into the commercial sector, particularly in Europe, focusing on applications like wind farm inspection using their drone technology.
Addressing concerns about funding for startups in the defence sector, Captain Parashar acknowledges the positive steps taken by initiatives like IDEXX but at the same time stresses on the need for additional funds, possibly through alternative investment avenues.
The conversation concludes with insights into the broader defence startup ecosystem, the role of organisations like SIDM, and Captain Parashar’s expectations for increased funding and support in the upcoming budget. He emphasises the importance of a robust semiconductor industry for India to become a self-reliant arms exporter, highlighting the need for collaboration between larger defence companies and startups to foster growth in the sector.
(Host: Dalip Singh, Producer: Amitha Rajkumar )
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About the State of the Economy podcast
India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders. To help you make sense of the bundle of contradictions that the country is, businessline brings you podcasts with experts ranging from finance and marketing to technology and start-ups
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