Offset production in Defence to be 12-15B USD in 10 years:Parrikar

07 July, New Delhi

Defence Minister Manohar Parrikar Thursday expressed confidence that the indian industry could benefit to the tune of 12 to 15 b USD due to the offset policy of the government over the next ten years.

Speaking at the inauguration of the 7th Strategic Electronic Summit of ELCINA here, he said that the government plan to firm up various defence procurements and this should bring in cheer to the Private sector also as the Defence Public Sector units have been asked to go in for greater outsourcing to enhance their productivity.

He said efforts made by his ministry over the last two years hadalready borne fruit for the small and medium scale industries whose supplies to the defence sector had touched Rs.52000 crore last year up from Rs,42,000 crore in 2014. Their share in defence purchases had gone up to 9 per cent last fiscal from 4 per cent the previous year. ”We aim to touch 15 per cent this year” he added.
He said that he had sought the defence PSUs to be major integrators of platforms and procure systems and components from the private sector. ”We have created a conducive climate for the industry both from PSUs and Ordnance factories”, Parrikar said.