Bangalore, December 11 2015: The National Small Industries Corporation, of the Government of India (NSIC Ltd) organized the 4th edition of the (micro, small and medium enterprises) MSME DEFEXPO 2015, here yesterday, highlighting a vibrant defence-industrial ecosystem.
The event was dedicated to defence sector by Kalraj Mishra, Union Minister in the Ministry of MSME along with Shri Satish Jarkiholi, Minister for SSI, Government of Karnataka. and a host of other dignitaries.
Said Kalraj Mishra: “India, till recntly relied on foreign manufacturers for the procurement of defense related equipment. However, there was always, a need for self-reliance. Small and medium enterprises (SMEs) play an important role in creating a self-reliant base for any industrial sector and that stands true for defence sector as well. Our focus now is on enabling SME sector for the supply of equipment, machineries and general consumables, adding SMEs in the supply chain of high technology products and services related to defense sector.
The MSME DEFEXPO 2015 provided companies with an optimal opportunity to showcase their capabilities in the domains of defence, aviation, aerospace and homeland security. The Indian Aerospace & Defence’s expenditure on capital acquisition is estimated to be at around $ 120-150 billion in the next 10 years, along with a simultaneous investment of $30 billion by the Govt. of India. Additionally, with the Homeland Security market poised to grow at Rs 1.18 lakh crore by 2017, from the current Rs 80,000, the possibilities are endless. ( one lakh is Rs 100,000. One crore is Rs 10 million)
Around 200 MSME exhibitors including 10 International Original Equipment Manufacturers (OEMs) like Boeing, Airbus, Honeywell, Zen Air Defence Canada CEMILAC etc. are taking part in this exhibition which ends December 12 .