The business potential of Vidarbha, with special focus on the defence sector, was discussed at a buyer-seller meet organised by Confederation of Indian Industries (CII) today
Maharashtra’s Vidarbha region in general and Nagpur, its biggest city, in particular has all the potential to attract investments in the defence sector, according to industry captains.
The business potential of Vidarbha, with special focus on the defence sector, was discussed at a buyer-seller meet organised by Confederation of Indian Industries (CII) today.
Nitin Deveshwar, Chairman, CII Vidarbha Zonal Council and Managing Director, ESMS India Pvt Ltd, said the first-ever buyer–seller meet organised at Nagpur provided an opportunity for local manufacturers to explore new avenues in the defence sector.
With the region having ordinance factories, it makes sense to have defence manufacturing units here, he said.
Deveshwar said there was now a greater impetus on private sector involvement in defence production.
Mukesh Bhargava, Convenor, CII Maharashtra–Defence Task Force and Vice-President, Head, Special Projects & Engineering System at L&T, said defence is the largest and fast-growing domestic market and has a wide opportunities ahead.
India is currently the 9th largest aerospace market in the world and going to become the third largest in the next few years, Bhargava said.
Large and growing domestic market, outsourcing of defence and indigenisation thrust from Government are the strengths of defence manufacturing sector in India, he added.
Executive Director & CEO, Mahindra Defence Naval Systems, Devendra Bhatnagar, spoke about various requirements and opportunities for SMEs in the defence manufacturing.
Sandeep Saigal, is Head, Defence Sales & Business Development at Tata Motors, said defence manufacturing is now open to the private sector and it will create a very positive impact on industries.
Tata Motors has collaborated with multiple platforms and application for defence manufacturing. Futuristic infantry combat vehicle (FICV) is where MSMEs can play a key role, Saigal said.
K Nandakumar, Chairman & Managing Director, Chemtrols Industries Ltd, emphasised on role and opportunities for MSMEs in defence sector.
Rahul Dixit, Member, CII Maharashtra Defence Task Force and Director, Midland Diesel Services, highlighted business opportunities in the sector in Vidarbha and Nagpur.
He said Nagpur and Vidarbha have all the potential to attract investments in the key sector.