Are Things About To Improve For India’s Defense Sector?
FARNBOROUGH AIR SHOW » 2014 by NEELAM MATHEWS July 14, 2014, 7:00 AM A slowdown in reforms in India over the past five years–and a virtual pause in procurement–may be about to change following renewed optimism and confidence as the new government shows, for the moment at least, that it is serious. As hectic activity takes place in the ministries of commerce, finance and defense, increasing manufacturing, exports and foreign direct investment ( FDI ) are focus areas of the new regime. A proposal to increase FDI levels from the present 26 percent to 49 percent, and possibly later, 74 percent for transfer of production (build to print) and 100 percent in the case of a single-source-hub transfer, including transfer of technology, is being viewed with interest. While India has moved steadily in automobile and automotive components manufacturing, with auto giants leveraging the country’s strengths in I...